L&T’s shares closed at ₹3,867.1, a 6% jump, as traders processed a 22% YoY rise in engineering‑construction execution and a $90 bn backlog that grew 28% from a year ago.
CLSA keeps an ‘outperform’ rating, targeting ₹4,842 and pointing to a 32% upside from yesterday’s close, while Nomura stays neutral with a ₹3,940 target and Macquarie maintains a high ₹4,710 target.
The group reiterated its FY2027 guidance of a 10‑12% increase in new orders and flat margins, underpinned by a $90 bn backlog and a 26% rise in West Asia execution, even as the Strait of Hormuz remains partially blocked.
Investors will watch L&T’s December 31 filing for the next quarter and assess how its push into AI, green tech and chemistry could affect future margins amid regional tensions.