Larsen & Toubro shares gained 3.64% ahead of its March quarterly results scheduled to be released today. Larsen & Toubro stock price touched an intraday high of Rs 964.9, rising 3.64% as against the previous closing price of Rs 931.
L&T stock trades higher than 5, 20 and 50-day but lower than 100 and 200-day moving averages. L&T stock price has risen 1.69% in one week and 13.25% in one month.
Market capitalisation of the large-cap stock stood at Rs 1,33,095.98 crore as of today's session.
As per HDFC Securities, the company is likely to report 7.6% revenue growth at Rs 46,590 crore while a 2.4% YoY decline in net profit at Rs 3,338 crore. The EBITDA margins are likely to remain flat YoY at 12%.
The key monitorables will be government tendering momentum, update on projects/potential orders execution restart in Maharashtra and guidance for FY21E, HDFC Securities report added.
In another update, L&T Construction also informed the exchanges BSE, NSE that it has bagged an order in the range of Rs 2,500-5,000 crore from the Irrigation and Command Area Development Department, Government of Telangana.