L&T can give handsome returns, says Dilip Bhat

Dilip Bhat of Prabhudas Lilladher told CNBC-TV18, "I think Larsen & Toubro (L&T) really has taken it on the chin for variety of reasons and I think some of the most pressing problems being that they pay a very high debt on a consolidated basis and I think even the execution rate and the warning guidance have really added to the woes of the company. Having said that, I think it is still the big headline bet one can take on L&T that it is still going to be the main company which will participate very actively in India's growth story and that has very conveniently been pushed to the background at the moment.""I think as the market picks up, I feel that L&T will participate very actively and properly. Even otherwise if you take a slightly longer term view of 12-15 months I think this stock can give a very handsome return, outperforming the markets," he added.