L&T PPL

Larsen and Toubro (L&T), the largest engineering company in India has floated a new arm, L&T Power Projects (L&T PPL)

L&T Power Projects (L&T PPL), a new venture of Larsen and Toubro (L&T), the largest engineering company in India was launched recently. This allows them to foray into the booming Power generation business. This is a JV between L&T PPL and Japanese electrical giant Toshiba shortly for setting up a turbine manufacturing facility.

L&T closed at Rs3090 today which about 6.7% higher from yesterday’s closing price.

Market review

Ashwani Gujral is of the view that there will be no deep correction in the markets. This is a “pause” and markets are moving in a range. Each dip in the market is couple with aggressive buying. So there is nothing to suggest that markets are heading for heavy corrections.

IFCI

IFCI has corrected quite a bit in the last few trading sessions and i think 90 and below is a very good price to enter this stock.

CMP: 88.65

Power Grid: Good stock for Long term

PN Vijay, Portfolio Manager believes that Power Grid is a good stock for long term investors. Even at the current price of over Rs 100 he recommends a hold.

Listing of Power Grid Corporation

As I had said before that Power grid was expected to list around Rs 80 and above, it opened today at Rs 85!!! Currently it is quoting at about Rs 104.95.

Power Grid Corp. handles about 45% of power generation in India, making it the largest central transmission utility.