Larsen & Toubro hits record high; market-cap crosses Rs 3 trn mark

L&T is the best proxy for domestic capex given its market leadership in the engineering and construction industry, diversified revenue stream and strengthening balance sheet.

Larsen & Toubro (L&T) joined the elite club of companies with Rs 3 trillion market capitalization on the BSE, after its share price hit a new high of Rs 2,139.70, on rallying 2 per cent in intra-day trade on Wednesday. With a market-cap of Rs 3.01 trillion, at 10:30 AM, L&T stood at number 20th position in the overall market-cap ranking, the BSE data shows.

In past one month, L&T has outperformed the market by gaining 6 per cent, as compared to 2.5 per cent rise in the S&P BSE Sensex on strong order prospects.

L&T, the engineering