Larsen and Toubro is an engineering and construction conglomerate and has announced its 1QFY10 results yesterday. However company dull sales growth of about 7% is a reflection of the capital investment scenario in the country at present.

One has to understand that scenario has not become so rosy that it warrants a sharp rise in the share price. One has to also understand this fact that company management has also acknowledged the fact that it expects things to pick in the second half of this fiscal. Management has also expressed the fact that present environment is grim as far as expansion capital expenditure is concerned.
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