L&T hits 5-month high; stock rises 17% in three-weeks

The stock was up 1.5% at Rs 1,405, trading at its highest level since May 3, 2018, 5% away from its record high level of Rs 1,470 touched on February 1, 2018.

Shares of Larsen & Toubro (L&T) hit an over five-month high of Rs 1,405 per share,  rising by 17% in past three weeks, as compared to 4.7% rise in the S&P BSE Sensex.

The stock of engineering & construction firm was trading at its highest level since May 3, 2018, on the BSE in intra-day trade. It is 5% away from its record high level of Rs 1,470 touched on February 1, 2018.

The brokerages have been bullish on the stock after L&T reported a better-than-expected September quarter result and remains the best proxy for the Indian infrastructure