Sell L&T With Stop Loss Of Rs 2075

Sell L&T With Stop Loss Of Rs 2075Technical analyst Rahul Mohinder has maintained 'sell' rating on Larsen & Toubro Limited (L&T) stock with an intraday target of Rs 1990.

According to analyst, the investors can sell the stock with a stop loss of Rs 2075.

It is better to sell stock in today's session as there are full chances of decline.

Today, the stock of the company opened at Rs 2031.80 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 56.10 and 36.01 respectively.

On November 16, Larsen & Toubro Ltd announced that its construction section, in association with Oman infrastructure player Galfar Engineering & Contracting, had pocketed the first biggest abroad EPC (engineering, procurement and construction) deal from the Ministry of Transport & Communications of Oman.

The order valued at $764 million is for the design and growth of the new Salalah International Airport in Oman.

In addition, L&T has postponed proposals to strengthen its subsisting power equipment making capacitance of 5,000 MW annually after the administration's denial to levy tax on imported equipment, especially from the Chinese market.

The ministry of finance is said to have rejected the burden of import tax on power equipment sourced out of the country, even though domestic makers had made a number of depictions for a level-playing arena with Chinese equipment companies.

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