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.
(Published 24 September 2012, 05:19 IST)
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