Market Expert Gaurang Shah Gives Buy Rating To L&T! Calls It A Stock For Generations

Larsen & Toubro shares surged over 4% on Wednesday, reaching a new record high. The rise was triggered by the announcement of a Rs 10,000 crore share buyback, a special dividend, and better-than-expected results for the June quarter. L&T approved the buyback of 3.33 crore shares at a maximum price of Rs 3,000 per share, totaling up to Rs 10,000 crore. Additionally, a special dividend of Rs 6 per share, amounting to Rs 843 crore, was approved. Market Analyst Gaurang Shah has given the stock a BUY rating, endorsing it as a valuable asset to pass on to future generations.