Larsen & Toubro hits over three-month low; stock declines 13% in one month

L&T sees prospects in the areas of government buildings, data centres, etc. It is uncertain, however, of the timelines when these projects will take off.

Shares of Larsen & Toubro (L&T) hit an over three-month low of Rs 862, down 2 per cent on the BSE on Tuesday as near-term macro risks, likely government capital expenditure (capex) cut appear challenging for the company. 

The stock of the construction & engineering major was trading at its lowest level since May 28, 2020. In the past month, L&T has underperformed the market by falling 13 per cent, as compared to a 1.7 per cent decline in the S&P BSE Sensex.

L&T sees prospects in the areas of government buildings, data centres, healthcare infra, airports, metro railways, water