Technical analyst Somil Mehta of Sharekhan has maintained 'buy' rating on Larsen & Toubro Limited stock with a medium target of Rs 1770.

According to analyst, the investors can buy the stock with a stop loss of Rs 1600.

Today, the stock of the company opened at Rs 1666 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2212 and a low of Rs 1395.50 on BSE.

Current EPS & P/E ratio stood at 57.63 and 28.70 respectively.

Engineering giant Larsen & Toubro registered a net profit of Rs 841 crore for the three month period ended December 2010, around 11% up as against the Rs 696 crore of PAT during the same period of 2009-10.

But, the company's operating margin during the third quarter remained down at 10.8% as against 12.4% a year earlier.

Net revenues for the third quarter remained up by 40% at Rs 11,413 crore as against Rs 8,145 crore during the same period of the last financial year.

Though L&T did better than what the markets projected in terms of income and net profits, pressure on margins caused its scrips dropped 1.65% to Rs 1,681 a share on the Bombay Stock Exchange (BSE).

Y M Deosthalee, whole-time director and chief financial officer stated, "Pace of execution of orders was fast. However, margins were affected during the quarter by commodity prices and inflation."