Breakout Alert! L&T stock may cross ₹4,000-mark, gain over 11%, hints chart
Technical charts show that the bias at the Larsen & Toubro counter is likely to remain positive as long as the stock trades above ₹3,437 levels.
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Larsen & Toubro (L&T) opened with a gap-up, and rallied to a high of ₹3,653 - up 4.5 per cent in Wednesday's intra-day trade as the stock reacted to the Q1 results. Yesterday, too, the stock gained over 2 per cent, after the company said it secured an ultra-mega order for its hydrocarbon offshore business from a client in the Middle East. As per L&T's order categorisation, an ultra-mega order means a contract in excess of ₹15,000 crore. On the earnings front, L&T's net profit rose 29.8 per cent year-on-year (YoY) to ₹3,617.2 crore in Q1FY26, as against ₹2,785.72 crore in the corresponding period a year ago. Revenue from operations increased by 15.5 per cent YoY to ₹63,678.92 crore. Most brokerages have reiterated a 'Buy' rating on the L&T stock, and also have increased the expected target price post the company's Q1 earnings. READ MORE Technically, the Larsen & Toubro stock has given a breakout on the daily chart, and is seen quoting above the short-term moving averages after almost a month. Technical charts suggest that the L&T stock can potentially gain another 11 per cent from here, and surpass the ₹4,000-mark.