Buy Larsen and Toubro around Rs 1640-1650: SP Tulsian

Buy Larsen and Toubro (L&T) around Rs 1640-1650, says Ambareesh Baliga, Market Analyst.

Baliga told CNBC-TV18, “L&T has been my favorite for quite a while and I have been recommending that also for the last so many months and again it was a surprise when I saw the results, they are surely much better than what they are expecting because infact I did not expect such good numbers this quarter.”
He further added, “I was expecting much better numbers coming for December and March. So looking at sort of a performance they have put up now surely December will be a bigger surprise and I will not be too surprised to see L&T at closer to about Rs 1850 levels.”
“The numbers were far better than what I expected. Although you had that other income exceptional one but still you look at the core income also it was clearly better than what I was expecting and yes getting a huge dip from here is very difficult. So even a small dip to levels of closer to about Rs 1640-1650 which is very much possible after this sort of run up you should look at buying at those levels because like I said possibly in the next three months you could see levels of Rs 1850 plus.”