Hold Larsen and Toubro, says Anu Jain

Anu Jain of IIFL Private Wealth Management recommends holding Larsen and Toubro as the stock may test Rs 1387.

Anu Jain of IIFL Private Wealth Management told CNBC-TV18, " Larsen and Toubro (L&T) has been consolidating now for quite sometime, it has been in Rs 1250-1300 zone for sometime now. It is closed at Rs 1284, it needs to not break Rs 1252 but it is looking poised for Rs 1387 levels. It may not happen this week but I would definitely continue to hold on to this counter. I think there is a positive bias to Rs 1387."

At 11:33 hrs Larsen and Toubro was quoting at Rs 1,279.55, down Rs 3.70, or 0.29 percent. It has touched an intraday high of Rs 1,290 and an intraday low of Rs 1,277.40.

The share touched its 52-week high Rs 1,310 and 52-week low Rs 678.10 on 02 April, 2014 and 28 August, 2013, respectively. Currently, it is trading 2.32 percent below its 52-week high and 88.7 percent above its 52-week low. Market capitalisation stands at Rs 118,618.93 crore.

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