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Money Mar 6, 2013

Goldman Sachs upgrades L&T; stock up 2%

Shares in Larsen & Toubro gained more than 2 percent after Goldman Sachs upgraded the stock to "buy" from "neutral".

Goldman cited cheaper valuations after L&T's recent under-performance against the broader index and the prospect of stable revenue growth over the medium term.

Reuters

The investment bank also noted the government is expected to fast track an estimated $30 billion worth of infrastructure projects in fiscal 2013-14. Reuters

The investment bank also noted the government is expected to fast track an estimated $30 billion worth of infrastructure projects in fiscal 2013-14, while also pointing to other supportive factors such as an expected lower cost of financing.

Reuters


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