Reuters Market Eye - Credit Suisse downgrades Larsen and Toubro
Credit Suisse says it expects L&T's domestic order flow to have slowed down, while an increasing share of overseas orders is of lower margin.
The investment bank also notes L&T's shares look "expensive," given the declining outlook for earnings.
L&T shares down 3.8 percent at 838.70 rupees as of 1521 IST.
