Buy L&T on dips, advises Sanjeev Zarbade

Sanjeev Zarbade, Analyst at Kotak Securities told CNBC-TV18, "In Larsen & Toubro yesterday’s numbers that we saw, at the revenue level they were muted in terms of growth and there was also some pressure on the various business divisions that the company has on the margin levels. So, the stock reaction was negative because the numbers were not exactly in line. From here on there could be a bit of a downside to the stock but there are certain positives that are going in favour of the company in the sense that the macro economic situation is on an improving track. So, from here on we could see more projects getting finalised. The gestation period from a drawing board to order placement will come down and that should lead to more order intake in the coming quarters."

"Although these numbers were bit of a disappointment we are looking at a forward level wherein we are seeing things improving. Hence we are not very negative on the stock. Any declines from these levels and we would be buyers," he said.