Goldman Sachs downgraded 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 0.8 percent as of 10.23 a.m.
Deccan Herald is on WhatsApp Channels| Join now for Breaking News & Editor's Picks