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Goldman downgrades Larsen & Toubro to 'Neutral'


Goldman Sachs downgraded India's Larsen & Toubro to "neutral" from "buy", saying the stock was trading above historical median valuations even as the macro-economic environment remained "tough."

However, Goldman said it continues to be a strong believer in the long-term growth potential for L&T.

L&T shares were down 0.6 per cent as of 9.19 a.m.

Copyright @ Thomson Reuters 2012

Story first published on: September 24, 2012 09:36 (IST)

Tags: L&T, Larsen & Toubro, Goldman Sachs

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