LT

The Infrastructure Giant Nobody Is Talking About | L&T

While pharma sold off and banks went sideways today, one name quietly topped the Nifty gainer list at the open — Larsen and Toubro, up 1.8 per cent in early trade — and the story behind that move is worth understanding. L&T is having a quietly exceptional 2026. Order inflows continue to surge, backed by India's infrastructure spending push, Middle East project wins and a growing technology services business through LTIMindtree and L&T Technology Services. The company's order book now stands at over Rs 5.5 lakh crore — the largest in its history — providing three-plus years of revenue visibility even if no new orders were added from today. The 52-week range runs from Rs 3,124 to Rs 3,970. The stock currently sits near Rs 3,521 — roughly 11 per cent below its 52-week high — even as the underlying order momentum has arguably never been stronger. Q1 FY27 results are due shortly, with analysts projecting revenue growth of 14 to 16 per cent year on year and EBIT margin improvement of around 50 basis points as project execution picks up pace. Today's session saw crude below $80, realty and infrastructure stocks leading gains, and broader midcap and smallcap indices outperforming the Nifty for the second straight session. All three of those conditions tend to be tailwinds for L&T, which straddles both the infrastructure and capital goods theme. With RBI policy now behind the market and earnings season entering its busiest two weeks, L&T's result date and management commentary on Middle East project progress will be the next key watch points.