Goldman Sachs removes L&T from conviction buy list

Goldman Sachs removes Larsen & Toubro from its Asia Pacific conviction buy list following the stock's outperformance over the last month.

However, the investment bank retains its "buy" rating on the stock, citing robust order inflows year to date and continued market share gain.

Since being added to the conviction list on January 18, 2012, L&T shares have gained 13 percent vs. BSE Sensex rise of 6 percent and BSE Capital Goods index's 5 percent gains.

L&T shares were down 0.1 percent at Rs 1,402.45.