Hold L&T, says Gaurang Shah

Gaurang Shah of Geojit Financial Services told CNBC-TV18, "When you invest in capital goods, engineering, infrastructure, upstream oil exploration companies and mining companies you cannot afford to have just 3-6 months or maybe 9 months’ time horizon. You need to have a longer gestation period in terms of investment and that is primarily because of the time taken to execute complex projects that these companies handle."

"We remain extremely positive from a long term point of view and by long term the definition is about year and a half two, so if you can change your time horizon I would advise you to hold on to L&T," he added.