Sensex, Nifty Open Moderately Lower; TCS, HUL Lead Gainers - Dollar Advisory & Financial Services

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Monday 20 February 2017

Sensex, Nifty Open Moderately Lower; TCS, HUL Lead Gainers

CLSA has a buy call on L&T as it believes the stock is a good proxy for domestic capex. First order is around the corner, but new bids are key, it says, adding, the needs to win 1 of the 2 large navy orders to utilise its defence yard. 

The brokerage house believes company will be a significant beneficiary of defence capex. Its's tie-up with Navantia, Spain, may endow with certain competitive advantages, it feels. 

L&T has emerged as the No 1 player in prequalification for USD 8 billion FICV project.

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