Shares of Larsen & Toubro (L&T) gained 2% on Thursday after global brokerage CLSA reaffirmed its ‘Outperform’ rating, setting a price target of Rs 4,151. As of 9:50 AM, the shares were trading 1.33% higher at Rs 3,490.70.
As per CLSA, the surge in investor sentiment follows L&T’s recent milestone—securing its largest-ever EPC (engineering, procurement, and construction) contract from QatarEnergy LNG. Valued at over $4 billion, this offshore gas project marks a significant achievement for the company, cementing its position among the world’s top-tier EPC players capable of handling large-scale international projects.
CLSA emphasized that this contract strengthens L&T’s global credibility and provides long-term revenue visibility. The brokerage also noted that L&T’s expanding footprint in the oil and gas sector enhances its project execution capabilities, reinforcing its leadership in the infrastructure and energy industries.
As India’s largest infrastructure conglomerate, L&T continues to benefit from robust domestic and international order inflows. With a strong pipeline of projects and an improving macroeconomic environment, the stock remains an attractive bet for investors looking for steady growth.
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