L&T hits new high in weak market; Analysts see up to 10% further upside

L&T is well-placed to benefit in the long run given strong tender prospects, better order conversion in domestic markets, significant traction in hydrocarbon and renewable energy orders.

Shares of Larsen & Toubro (L&T) hit a record high of Rs 3,050.70, gaining 3 per cent on the BSE in Thursday’s intra-day trade in an otherwise weak market owing to healthy business outlook. In comparison, the S&P BSE Sensex was down 0.43 per cent at 65,837 at 11:57 AM.

The stock of civil construction company surpassed its previous high of Rs 3,008 touched on September 12, 2023, a day which it turned ex-date for share buyback. The buyback offer closed on Monday, September 25.

The company had proposed to buyback 31.25 million equity shares at offer price