Keep Larsen & Toubro in portfolio, says Devang Mehta

Devang Mehta, Senior Vice President & Head Equity Advisory at Anand Rathi Financial Services told CNBC-TV18, "One stock which is a no brainer at this point is Larsen & Toubro which is also bearing the brunt of this carnage. I think this is one stock if people are gung-ho about Indian infrastructure growth story and what is going to happen with India's infrastructure, then I think L&T is one stock which gives you the segmental diversification as well as geographical diversification in terms of its order book and its balance sheet size. I think this is one stock which one needs to own in a portfolio and what better time than this when there has been a severe correction in it also."The company's trailing 12-month (TTM) EPS was at Rs 52.27 per share. (Jun, 2015). The stock's price-to-earnings (P/E) ratio was 29.25. The latest book value of the company is Rs 398.36 per share. At current value, the price-to-book value of the company was 3.84. The dividend yield of the company was 1.06 percent.