L&T likely to underperform in medium-term: Nitin Raheja

In a chat with ET Now, Nitin Raheja, CIO, AQF Advisors, shares his views on L&T.

ET Now: Do you think L&T numbers do not inspire too much of confidence, on all counts? Is it a big miss?

Nitin Raheja: It is not only L&T. You have seen a lot of these infra stocks, L&T, yes specifically more than the numbers. It is a concern on the valuation, the kind of expectation that have built into the stock. So clearly, the numbers are a bit of a disappointment but if you take a two-three-year view, yes, the stock will come back. But in the medium term, clearly since the price has run up and it is discounting a lot of good news, you will see a period of underperformance.