Buy Larsen and Toubro, says Antique Stock Broking

Buy Larsen and Toubro, says Abhineet Anand, Analyst, Antique Stock Broking.

Anand told CNBC-TV18, "In Larsen and Toubro we have a price target of Rs 1800 and we have a buy on the stock. I think lot of people on the street had gone negative. Our view is that order inflows although they had not disclosed a number of them. We had building somewhere around 30,000-33,000 crore of intake and the company delivered 30,000. I think the street was positively surprised on that number and also on the guidance for FY12 and hence we have seen the movement in the stock in the last two days."
The company's trailing 12-month (TTM) EPS was at Rs 61.04 per share. (Mar, 2011). The stock's price-to-earnings (P/E) ratio was 27.00. The latest book value of the company is Rs 300.50 per share. At current value, the price-to-book value of the company was 5.48. The dividend yield of the company was 0.76%.