Larsen & Toubro trades higher for third straight day, up 5% in a week

Recovery in key international markets, continuous focus on infrastructure by the government, and rebound in crude oil prices augur well for L&T, according to analysts

Shares of Larsen & Toubro (L&T) were trading higher for the third straight day, up nearly 3 per cent at Rs 1,458 on the BSE in intra-day trade on Monday. The stock of the engineering and construction giant has gained 5 per cent in the past one week as compared to a 2 per cent gain in the S&P BSE Sensex. It was quoting at its highest level since March 18, 2021.

From October 2020 to February 2021, the stock witnessed an impulsive upmove towards Rs 1,600. It had hit a 52-week high of Rs 1,593 on February 2, 2021. Since