Stock market analysts have suggested investors to ‘sell’ Larsen & Toubro (L&T) stock with a target of Rs 650.

According to them, interested investors can sell the stock between Rs 665-670 with a strict stop loss of Rs 680.
 
Today (Jan 23), the stock opened at Rs 663.90 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 41.23 and 15.87 respectively. The share price has seen a 52-week high of Rs 1974.50 and a low of Rs 652 on BSE.

On Jan 22, the stock of the company lost Rs 22.75 at Rs 663.90, as against its last closure at Rs 686.65 on Wednesday (Jan 21).

Analysts also suggested that if the stock fell below Rs 638, it may see more weakness. So the investors must sell L&T stock in today’s session. After selling the stock, the interested investors can purchase the stock again at a low price, for medium or long term prospective to make good profits.

Larsen & Toubro has decided to establish a major research plant, which will conceptualize weapons systems developed by governmental agency Defence Research & Development Organisation (DRDO) for commercial production.

The company will set up research plant parallel to the DRDO and it would focus on applying the high-end technologies built up by DRDO.

It is also planning investments at its manufacturing base in Coimbatore where various sections of the company are setting up a unit.

On Jan 22, Larsen and Toubro (L&T) has signed up a Memorandum of Understanding (MoU) with Canadian based company, Atomic Energy of Canada (AECL) for teamwork on advanced CANDU Reactor ACR 1000.

The company, on Jan 20, has approached the administration showing interest to purchase the fraud-hit Satyam Computer Services.

On Jan 19, L&T Infrastructure Finance Company (L&T Infra) slashed the L&T Infra PLR (prime lending rate) by 0.75% (75 basis points) from 15% to 14.25%. The revised L&T Infra PLR shall be applicable with respect to all subsisting as well as new accounts, wherever the applicable interest rates are linked to it as a benchmark.

Moreover, the company is likely to set up a joint venture (JV) company with Nuclear Power Corporation of India (NPCIL) in order to produce forging materials.