Karvy Stock Broking Limited has maintained ‘Sell’ rating on Larsen & Toubro (L&T) stock to achieve a target of Rs 2,250 today.

The investors are advised to sell the stock to avoid loss, as there are full chances of a downward trend in this stock in today’s session.

If the stock fell above 2,338, it may see more weakness.

According to Karvy, investors can sell the stock above 2,350 with a strict stop loss of Rs 2,400.

After selling the stock in today’s session, the interested investors can enter the stock again, but only on declines. The long term investors should stay invested to reap big returns.

Today, the shares of the company opened at Rs 2,337 on the Bombay Stock Exchange (BSE), as against its last closure at Rs 2,357 on Friday. Current EPS and P/E stood at 74.35 and 32.27 respectively. The share price has seen a 52-week high of Rs 4,670 and a low of Rs 2,100 on BSE.

Larsen & Toubro (L&T) has pocketed a Rs 10.48 billion order from the Indian Railways for setting up a cast steel wheel manufacturing plant in Saran (Chhapra) District of Bihar. It has also secured an order worth Rs 4.46 billion from JSW Power Transco for evacuation of power from the 1200 MW power project set up by JSW Energy at Ratnagiri in Maharashtra.
 
The company also received Rs 15.57 billion order for the steam turbine generator package of 2 x 800 mw for Damodaran  Sanjeevaiah Thermal Power Station at Krishnapatnam, Andhra Pradesh.

L&T is also making discussions acquire the project business of Crompton Greaves.

Moreover, L&T has sold its Ready Mix Concrete business to Lafarge for Rs 14.8 bn.

L&T Electricals Saudi Arabia Company Limited (LTESA), the joint venture between Larsen & Toubro International FZE (LTFZE) and Yusuf Bin Ahmed Kanoo, inaugurated its switchboards manufacturing facility in the Kingdom of Saudi Arabia.

For ship-building, the company has earmarked about Rs 3,000 crore for the next few years.

The company registered a turnover of Rs 29,600 crore during the last fiscal (2007-08), and this year it anticipates a growth of 30% in sales.