Stock market analyst Simi Bhaumik has maintained 'sell' rating on Larsen & Toubro Ltd stock with target of Rs 1740.

According to analyst, the investors can sell the stock with stop loss of Rs 1758.

Today, the stock opened at Rs 188.50 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 319.70 and a low of Rs 134.25 on BSE.

Current EPS & P/E ratio stood at 52.56 and 33.36 respectively.

L&T has decided to restructure its JV with Japan's Mitsubishi Heavy Industries, as it sets up to re-bid for the NTPC agreement for bulk supply of supercritical boilers valued at Rs 9,000-11,000 crore, in which they were previously barred on technical grounds.

L&T would shift the equity of L&T in their JVs with Mitsubishi Heavy Industries (MHI) into L&T Power via a book transfer, if clauses for the re-tender remain identical.

Larsen & Toubro's (L&T) Thermal Power Plant Construction Business section has pocketed two orders worth Rs 827 crore.

The scope of order from GVK Power worth Rs 602 crore includes total construction comprising certain electrical and mechanical balance of plant items (E&M BOP) for the 2 x 392 MW Gautami Stage-II Combined Cycle Power Plant in Andhra Pradesh.

The second order worth Rs 225 crore from SEPCO-I is for the civil works for the 2 x 660 MW Talwandi Sabo Power Plant being developed by Sterlite Energy Limited in Punjab.