Larsen & Toubro stock dropped 4% today; Macquarie shares target price
L&T share price: The stock fell 4.04 per cent to hit a low of Rs 3,288.65, taking its year-to-date fall to 19.45 per cent. The stock fell amid the broader selloff in the market.
- Mar 23, 2026,
- Updated Mar 23, 2026 2:10 PM IST
Shares of Larsen & Toubro Ltd (L&T) fell over 4 per cent in Monday's trade despite the engineering and construction major updating on the impact of the ongoing unrest in West Asia. The company on Saturday reportedly said 95 per cent of its projects are continuing to function and that it has not seen any business impact from the ongoing West Asia crisis.
By 2.08 pm, the stock had fallen 4.04 per cent to hit a low of Rs 3,288.65, taking its year-to-date fall to 19.45 per cent. The stock fell amid the broader selloff in the market. It did not find support from Macquarie's 'Outperform' rating. The brokerage suggested a target price of Rs 4,910 on L&T.
L&T does not see any immediate impact on revenues as the 5 per cent of projects where work has been stalled do not contribute significantly to the topline, PTI quoted deputy managing director Subramanian Sarma, as telling reporters over the weekend.
During the meeting, L&T, which operates over 100 sites across Saudi Arabia, the UAE, Qatar, Kuwait and Oman, offred updates on the current status and progress of L&T's ongoing projects in the West Asia region, including maintenance of operational continuity in light of the prevailing regional environment. It also gave an overview of the measures undertaken by the company to ensure the safety, security, and well-being of its workforce and their families deployed across the West Asia geographies including protocols activated in response to the current situation in the region.
Macquarie, meanwhile, noted that the Deputy MD has flagged logistics and supply chain as key challenges and highlighted revenue risks. The foreign brokerage, as per CNBC TV 18, sees significant value in L&T at the prevailing levels.
Shares of Larsen & Toubro Ltd (L&T) fell over 4 per cent in Monday's trade despite the engineering and construction major updating on the impact of the ongoing unrest in West Asia. The company on Saturday reportedly said 95 per cent of its projects are continuing to function and that it has not seen any business impact from the ongoing West Asia crisis.
By 2.08 pm, the stock had fallen 4.04 per cent to hit a low of Rs 3,288.65, taking its year-to-date fall to 19.45 per cent. The stock fell amid the broader selloff in the market. It did not find support from Macquarie's 'Outperform' rating. The brokerage suggested a target price of Rs 4,910 on L&T.
L&T does not see any immediate impact on revenues as the 5 per cent of projects where work has been stalled do not contribute significantly to the topline, PTI quoted deputy managing director Subramanian Sarma, as telling reporters over the weekend.
During the meeting, L&T, which operates over 100 sites across Saudi Arabia, the UAE, Qatar, Kuwait and Oman, offred updates on the current status and progress of L&T's ongoing projects in the West Asia region, including maintenance of operational continuity in light of the prevailing regional environment. It also gave an overview of the measures undertaken by the company to ensure the safety, security, and well-being of its workforce and their families deployed across the West Asia geographies including protocols activated in response to the current situation in the region.
Macquarie, meanwhile, noted that the Deputy MD has flagged logistics and supply chain as key challenges and highlighted revenue risks. The foreign brokerage, as per CNBC TV 18, sees significant value in L&T at the prevailing levels.