Deven Choksey positive on L&T

Deven Choksey, MD, KR Choksey Shares and Securities is positive on Larsen and Toubro (L&T).

Choksey told CNBC-TV18, "Given the kind of execution order book that L&T has had in the fourth quarter and given the kind of visibility that they are having in the form of higher amount of business I think my reading says that L&T numbers would come sequentially better starting from the fourth quarter onwards till another 6 or 8 quarters. So in my viewpoint, I think the things are looking quite okay and as you understand from the company most of their contracts are having a pass over cost as far as the cost is concerned."
He further added, "The higher raw material costs or probably massive commodity cost, I think is not affecting them as well. In my viewpoint I think the numbers are going to be positive, valuations have to an extent corrected for this company and if the time correction is alright, then possibly I think we will see some amount of buying interest returning back into this counter, if not full fourth, may be I think by the second half of the financial year I think we should be seeing an active buying interest coming back into this counter, so relatively positive on L&T going forward."