Shares of Larsen & Toubro (L&T) were in focus after global brokerage Jefferies reiterated its Buy rating on the stock with a target price of ₹4,345, implying a potential upside of 14% from the current market price of ₹3,823.60. The brokerage said L&T’s execution and order momentum continue to exceed expectations, with the company well positioned to deliver strong growth through FY26.
Jefferies noted that management has met or exceeded its FY25 guidance on revenue, order inflows, and margins, and appears on track to achieve or surpass FY26 targets as well. The brokerage highlighted that as of the September quarter to date, L&T has announced ₹629 billion worth of new orders.
Assuming about 35% of total orders are undisclosed, Jefferies estimates that overall order inflow growth would be flat year-on-year, but still up 16% YoY in 1HFY26, compared to the company’s full-year guidance of 10% growth.
The brokerage said the strong project pipeline, execution capabilities, and diversified exposure across infrastructure, energy, and manufacturing verticals continue to support L&T’s growth trajectory. It added that steady margin delivery and order wins across both domestic and international markets reinforce its positive view on the stock.
Disclaimer: This article is for informational purposes only and not a recommendation to buy or sell any securities. Brokerage views are based on their respective research reports and publicly available information.
