Shares of Larsen & Toubro, India’s largest engineering and infrastructure company, have advanced 87 percent over the past year, outperforming the benchmark and sectoral indices as the economic recovery, a healthy order book, and the government’s infrastructure push spurred the stock.
The S&P BSE Sensex rallied 48 percent in the past 12 months and the BSE Capital Goods index jumped 84 percent.
The stock touched a record high of Rs 1,717.90 on the BSE on September 1, gaining 28 percent in the past four-and-half-months.
L&T is an infrastructure conglomerate with interests in engineering, construction, manufacturing, technology and financial services. The company has orders worth more than Rs 3.2 lakh crore (20 percent from overseas), which experts said ensures good revenue visibility for the next few years. The infrastructure segment accounts for 75 percent of its orders.