Avoid.
The link below will make you see our views on L&T
http://www.mumbaibull.com/StockQueries-LARSEN-Analysis.aspx
never buy scrips just after split/bonus etc because it consolidates for sometime.
Exiting now is not bestest of the ideas. Though you may try averaging around 37 to get through early.
I generally ask people to avoid buying scrips just after they have gone split because they intend to correct in prices and consolidate for sometime.
It has support at 45-46 levels. You can hold or average lower.