Larsen & Toubro share price falls for fourth day on order book worries

Jan 06 2014, 14:37 IST
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Labourers work inside a Larsen & Toubro factory (Reuters) Labourers work inside a Larsen & Toubro factory (Reuters)
SummaryCredit Suisse notes Larsen & Toubro share price is reflecting state of orders co bagged.

Larsen & Toubro Ltd (L&T) share price is down 1 percent, heading towards their fourth consecutive day of falls for a total decline of 6.2 percent, on concerns the company's new orders are slowing down, dealers say.

Credit Suisse notes Larsen & Toubro 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 Larsen & Toubro'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.

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