Fresh entry into L&T at these levels may be too risky: Jagannadham Thunuguntla

In a chat with ET Now, Jagannadham Thunuguntla, Equity Head, SMC Capitals shares his views on L&T.

ET Now: What is the call on L&T?

Jagannadham Thunuguntla: Even on the stock price point view, L&T had a phenomenal rally. It almost single headedly contributed so many points to the Nifty and Sensex being all-time high.

It is time for the stock to get consolidated at these levels. No fresh entry is recommended, but if somebody is holding this stock, you don't need to panic. They can probably can still hold on, but fresh entry at these levels may be little too risky.