Stock market analysts have maintained ‘buy’ rating on Larsen & Toubro (L&T) stock with an intraday target of Rs 838.

According to analysts, interested traders can purchase the stock above Rs 820 with a strict stop loss of Rs 800. If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 850.

Shares of the company, on Thursday (Jan 01), closed at Rs 821.75 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 966471. Current EPS & P/E ratio stood at 41.23 and 19.96 respectively. The share price has seen a 52-week high of Rs 2200 and a low of Rs 670 on BSE.

The stock has great potential to rise on the back of healthy growth plans and well-built operating capabilities.

On Jan 1, Ravi Uppal, till now head of worldwide markets and member of group executive committee of engineering company ABB, has joined Larsen and Toubro as head of L&T Power.

Mr. Uppal has been nominated as managing director and chief executive officer of L&T Power, Mumbai-based L&T.

Larsen & Toubro (L&T) allotted 40,434 shares on Dec. 31, 2008 to those grantees who had exercised their options under the company’s Employee Stock Ownership Scheme.

The said shares will rank pari-passu with the subsisting company’s shares in all respects.

On Dec 16, L&T bagged major orders valued at Rs 13.72 billion from different clients including Vedanta Aluminium, Utkal Alumina International and Bhushan Steel.

Larsen & Toubro, on Dec 2, declared that Building & Factories Operating Company, a newly formed part of its construction arm, has pocketed orders worth Rs 14.5 billion during the third quarter of 2008-09 for the construction of IT and office space buildings including add on orders from ongoing works at its airport projects.

L&T has also announced that it would appoint 10,000 people by the next three years across its different business verticals.

Other stocks from the same sector that looks good for short-term as well as long-term trading includes Reliance, Grasim and Voltas.