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Add Larsen and Toubro: IIFL

Posted on: June 1st 2009 in Brokerage Recommendations.

IIFL has maintained its add rating on Larsen and Toubro in its May 29, 2009 report. “L&T’s adjusted profit increased 30% YoY to Rs 11.4 billion in 4QFY09, ahead of our and consensus estimates, driven by a positive surprise in margins. Margins were helped by 90bps saving in e…

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