Larsen & Toubro rallies 3% on strong outlook; stock surges 14% in 3 weeks

L&T share: Focus on lower balance sheet intensity, restructuring of metro project and focus on cash flows will drive rerating for the stock

L&T share price: Shares of Larsen & Toubro rallied 3 per cent to Rs 3,743.10 on the BSE in Friday's intraday trade, extending its gain on a strong business outlook. In the past three weeks, the stock of the engineering & construction (E&C) major has surged 14 per cent. In comparison, the S&P BSE Sensex has gained 2.4 per cent during the same period. The stock had hit a record high of Rs 3,859.65 on April 2, 2024.

L&T is India's largest E&C company, with an interest in EPC projects, and hi-tech manufacturing and services. The company primarily operates in infrastructure,