Larsen & Toubro gains 2%, hits over six-mth high on strong revenue outlook

Shares of Larsen & Toubro hit an over six-month high of Rs 1,951 after rising 2 per cent on the BSE in Friday’s intra-day trade as the company’s strong order book of nearly Rs 4 trillion suggests good revenue visibility in coming years.

The stock of the country’s largest engineering & construction (E&C) company was trading at its highest level since February 2, 2022. It had hit a record high level of Rs 2,078 on January 18, 2022.

In the past one month, L&T has outperformed the market by gaining 9 per cent as compared to a 1.4 per cent rise in the S&P BSE Sensex. Further, in the past three months, the stock has rallied 19 per cent vs a 5.6 per cent gain in the benchmark index.