L&T looks reasonably priced as of now: Prashastha Seth

In a chat with ET Now, Prashastha Seth, IIFL Private Wealth shares his view on L&T

ET Now: The one stock which is going to be in focus today will definitely be L&T and disappointing in terms of the margins as well as the order flow guidance which has been cut this time around, what is your take?

Prashastha Seth: I thought margins were better than anticipated, there was disappointment both in terms of order inflow and in terms of revenue growth but to us, margins were a positive surprise.

You saw a margin expansion on a quarter on quarter basis which is something nobody was anticipating. Revenue growth has been lower, order inflow has been lower. So there are some challenges in terms of how things are going to shape up but stock seems to be reasonably priced based on the results and I would not see a huge amount of movement in either direction today based on the results.