Shares of Larsen & Toubro (L&T) rallied over 4% on May 9, 9:26AM IST, hitting an intraday high of ₹3,462 after the engineering giant reported a strong set of numbers for the fourth quarter of FY25, beating market expectations and drawing positive commentary from top brokerages.
L&T’s consolidated net profit rose 25% year-on-year to ₹5,497 crore, while revenue grew 11% to ₹74,392 crore. The company also reported a 13.4% rise in EBITDA to ₹8,202 crore and improved operating margins to 11% from 10.8% a year ago.
The upbeat performance has prompted several brokerages to revise their target prices upward:
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Axis Capital maintained a Buy rating, raising its target price to ₹4,050 from ₹3,990.
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Investec also reiterated Buy, hiking its target to ₹4,115 from ₹4,030.
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Jefferies retained its positive view, increasing its target to ₹3,965 from ₹3,930.
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Bernstein maintained Buy with a target of ₹3,922.
Even as Haitong cut its target to ₹3,800 from ₹4,050, it maintained a Buy stance, indicating a still-positive outlook. Goldman Sachs, however, held a Neutral rating and slashed its target price to ₹3,260, citing valuation concerns.
As of latest trade, L&T shares were up 4.03% at ₹3,458, with over 11.9 lakh shares traded on the NSE. The stock has also seen robust derivatives activity, with open interest at 2.6 crore.
The management’s strong FY26 guidance and consistent execution continue to bolster investor confidence in the capital goods major.
