L&T falls for fourth day on order book worries

Reuters Market Eye - Shares in Larsen and Toubro Ltd (L&T) are down 0.2 percent, heading towards their fourth consecutive day of falls for a total decline of 6 percent, on concerns the company's new orders are slowing down, dealers say.

Credit Suisse notes L&T has announced order inflows worth of 108 billion rupees for the October-December quarter, or just 55 percent of the orders received in the same quarter of 2012/13.

A slowdown in new orders comes as analysts widely expect the investment cycle will only recover after general elections due by May.

The investment bank says L&T's order inflow growth would slow down from 27 percent in first half of FY14 to 12 percent or lower in the second half and 5 percent in FY15.

 

(Reporting by Abhishek Vishnoi)