The construction leviathan ( old, sturdy but old, not the shining new branded winner but the staid workhorse) reported an extra $500 mlnin Sales to grow to $3.75 bln for the latest quarter from $3.3 bln yoy.

On its strong sales report the company slipped ina guidance of lower margins around the corner. Its order book remains at more than INR 1.28 Tln and PAT grew year on year by less than 20% given the higher inflation scenario to $421 mln giving the dull days at the exchange a reason to turn back. 

Of course infrastructure plays like IDFC, REC lead a different bunch of scrips but l&T should make a difference to both cement/construction and BOT infra plays rather than push for just the order book heavy BHEL and its ME and Africa turbine sales

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