The Financial Express
7-29
L&T shares jump 4% as Motilal Oswal and JM Financial reiterate Buy, lift targets to Rs 4,550 and Rs 4,640
Larsen & Toubro’s shares rose 4% in a single session as Motilal Oswal and JM Financial kept bullish calls and tweaked their price targets. Motilal Oswal raised its target to Rs 4,550 from Rs 4,500, while JM Financial trimmed its target to Rs 4,640 from Rs 4,700, implying upside of over 19% and 21%, respectively. Their rationale includes a 14% YoY rise in core E&C order inflows, 3% YoY growth in core E&C revenue and steady margins at 7.6%, alongside continued large-ticket ordering from West Asia that underpins L&T’s FY27 order-inflow growth guidance of 10–12%.