(Reuters) -Shares of Larsen & Toubro jumped on Wednesday, as investors cheered the Indian infrastructure giant’s quarterly results, which topped expectations due to accelerating order growth.
The stock, which rose by as much as 4.5% rupees to 3,652.70 rupees, was the top percentage gainer on the benchmark Nifty 50 index, which was trading flat, and also boosted the infrastructure sub-index, which rose 0.6%.
Nine analysts raised their price targets on the shares after the results, data compiled by LSEG showed.
The company has begun fiscal year 2026 with “strong order inflow” and the management has pointed to a considerably robust prospect pipeline for the rest of the year, which gives “strong order inflow visibility”, brokerage Emkay Research said.
L&T’s long-term business prospects remain promising given that infrastructure development is one of Indian government’s pivotal themes to revive the economy, said Antique Stock Broking.
The shares are rated “buy” on average by 29 analysts, according to LSEG data. The median price target is at 4,070.50 rupees.
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Eileen Soreng and Mrigank Dhaniwala)
