Goldman Sachs has removed Larsen & Toubro from its Asia Pacific conviction buy list following the stock's outperformance over the last month.
However, the investment bank has retained its "buy" rating on the stock, citing robust order inflows year to date and continued market share gain.
Since being added to the conviction list on January 18, 2012, L&T shares have gained 13 per cent against BSE Sensex rise of 6 per cent and BSE Capital Goods index's 5 per cent gains.
L&T shares were down 0.1 per cent at Rs 1,402.45.
Copyright Thomson Reuters 2012
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