Citi downgrades L&T rating ahead of April-June results

Citi downgrades Larsen & Toubro to 'neutral' from 'buy'.

Written by Reuters

July 27, 2015 08:48 IST

Water and effluent treatment business of the company received an order worth Rs 709 crore from Gujarat Water Infrastructure and Rajasthan Urban Drinking Water Sewerage & Infrastructure Corporation. (Reuters)

Citi downgrades Larsen & Toubro to “neutral” from “buy”.

Citi says stock trading near fair value.

Expects slow execution and order inflows in first half of 2015.

Larsen & Toubro to announce April-June results on July 31.

Stock has 24 buy, 7 hold and 3 sell ratings, according to Eikon data.

TOPICSLarsen & Toubro

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This article was first uploaded on July twenty-seven, twenty fifteen, at forty-eight minutes past eight in the morning.