L&T extends gain as Goldman adds stock to conviction buy list
The stock rallied nearly 20% in past five trading sessions on BSE as compared to 9% rise in S&P BSE Sensex.
Larsen and Toubro (L&T) is trading higher by 3% at Rs 832 in otherwise weak market after Goldman Sachs added the stock to its conviction buy list.
Shares of engineering giant have rallied nearly 20% in past five trading sessions on BSE as compared to 9% rise in benchmark S&P BSE Sensex.
The brokerage house cited attractive valuations, visible growth, strong balance sheet and a good track record of execution, the Reuters report suggests.
A combined 1.72 million shares change hands on the counter till early noon deals on BSE and NSE. The stock hit a 52-week low of Rs 678 on August 28, 2013 and 52-week high of Rs 1,147 on October last year.
Shares of engineering giant have rallied nearly 20% in past five trading sessions on BSE as compared to 9% rise in benchmark S&P BSE Sensex.
The brokerage house cited attractive valuations, visible growth, strong balance sheet and a good track record of execution, the Reuters report suggests.
A combined 1.72 million shares change hands on the counter till early noon deals on BSE and NSE. The stock hit a 52-week low of Rs 678 on August 28, 2013 and 52-week high of Rs 1,147 on October last year.
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First Published: Sep 11 2013 | 11:19 AM IST