Shares of Larsen & Toubro today gained 1.6 per cent as Credit Suisse has upgraded the stock to "outperform" from "neutral" citing sustainable expectations, potential for positive surprise and reasonable valuations.
It says positive surprise possible from railways, defence, power and real estate that have not contributed in FY16 so far, bottoming of execution, margin benefit from commodities decline and asset divestitures.
The stock is likely to snap its four-day selling streak. It heads towards biggest single day gain since November 27.
The stock has 28 buy, 12 hold and 3 sell ratings.
Manufacturers, including L&T, target orders from revived nuclear power push.
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