CLSA

CLSA upgrades L&T stock to ‘outperform’

CLSA upgrades L&T stock to ‘outperform’

Brokerage CLSA on Thursday upgraded Larsen & Toubro (L&T) from `underperform' to `outperform', after the company announced good earnings for the December quarter and said it was confident of meeting its target of new orders in the current fiscal.

Upgrading the L&T stock, CLSA said government's favorable policies and expected cuts in interest rates would be reflected in the engineering & construction giant's earnings by the second half of current fiscal.