Wait and watch for L&T: Avinnash Gorakssakar

Avinnash Gorakssakar, Founder & Director, Moneyinvestments.in, in a chat with ET Now, gives his stock call


What is your call on L&T?

From a long term perspective L&T has the capacity to operate in turbulent weather. The management has given a very positive guidance despite the fact that incremental order book is going to come pretty difficult. Although Nomura has given a reduce call on L&T with a target price of around Rs 900, my guess is there would be some sort of settling for the stock in the near term because the coming two quarters are important. In these two quarters if the company does show some improvement on the order book inflow then the markets would be confident of the guidance. Coming two quarters would actually be the key barometer to see whether this stock price could actually go below the Rs, 1000 mark.