Stock market analyst Ashish Chaturmotha of Anand Rathi Securities has maintained 'buy' rating on Larsen & Toubro (L&T) stock to achieve a target of Rs 2080 in 2-3 trading sessions.

According to analyst, the interested investors can buy the stock with a strict stop loss of Rs 1985.

Today, the stock of the bank opened at Rs 2027 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2074.60 and a low of Rs 1395.50 on BSE.

Current EPS & P/E ratio stood at 53.93 and 37.75 respectively.

Infrastructure major announced that it would set up a JV firm with the Befula Investments with the aim to discover chances in the power segment in the Africa.

South Africa-based Befula Investments and L&T inked a deal to create a JV company Larsen & Toubro T&D SA.

As per reports, Larsen & Toubro T&D SA would make the most of the power transmission and distribution chances in the South African market.

The new JV company would have an installed power capacitance of around 44,000 MW.

The administration of Andhra Pradesh entered into a concession deal with L&T Hyderabad Metro Rail Pvt Ltd, for building up Rs 12,132-crore Hyderabad Metro Rail (L&T HMR) Project, under the public-private partnership initiative.