Investors should switch to Tata Consultancy Services Ltd (TCS) from Larsen & Toubro Ltd (L&T) as valuations and fundamentals now favour the software services exporter over the engineering firm, Credit Suisse said in a note on Friday.
Corporate aspirants for banking licences are disappointed with the Reserve Bank of India (RBI) rejecting their applications. Top executives said they would re-apply for the next round as and when RBI decides to start the on-tap licensing process.
Larsen and Toubro (L&T) is the best among the cyclical stocks because of its ability to sustain growth in order inflows (and consequently in revenues and earnings) in spite of an extremely challenging domestic macro environment.
Five road developers operating eight highway projects between themselves have approached the National Highways Authority (NHAI) to reschedule the premium they owe the government, after the finance ministry allowed this.
L&T Finance Holdings has dipped nearly 5% to Rs 75.35, extending its previous day’s 7% fall on the BSE, after the promoter Larsen & Toubro (L&T) share sale programme for diluting 4.85% of its stake commenced today at bourses.
Larsen and Toubro (L&T) is trading higher by 1% at Rs 1,232 after the company said it has secured international order worth Rs 3,655 crore from ASHGHAL (Public Works Authority), state of Qatar for design and construction of Al Wakrah Bybass Road.
As rupee strengthened over the past five sessions investors dumped export-centric safe haven IT and pharmaceutical stocks and instead took to cyclical such as capital goods on hopes of a recovery post elections.