Proceed cautiously in Larsen & Toubro: Jagdish Malkani

In a chat with ET Now, Jagdish Malkani, Member, NSE & BSE, shares his views on Larsen & Toubro.

ET Now: What is the view on the cap good space considering that the Larsen & Toubro has expressed the lot of confidence about the quarter in about the next 12 to 24 months?

Jagdish Malkani: L&T surprised on the upside and the sheer and the confidence of the management. Let us face it lot of that has been reflected in some of the extraordinary moves of the stock prices and of course L&T is a leader, so that is really epitomised that but I would still proceed cautiously.

There are no real bargains out there and the turnaround stories are there in the smaller space, Suzlon, etc. Lot of that has to be coupled with action but maybe in road, building, etc, where genuinely dynamic government can make a huge difference.