Larsen & Toubro nears record high after strong Q2FY23, healthy order book

Analysts believe that L&T is well-placed to benefit from overall diversified tender prospects with better order conversion in the domestic market

Shares of Larsen & Toubro were up nearly 1 per cent at Rs 2,035 per share in Tuesday’s intra-day trade, after the company reported a 22.5 per cent year-on-year (YoY) growth in consolidated net profit to Rs 2,229 crore for the quarter ended September 30, 2022 (Q2FY23).

At 11:23 AM; the stock traded flat at Rs 2,021.55, after it hit intra-day low of Rs 1,990. The stock was 2 per cent away from its record high level of Rs 2,078.20, which it had touched on January 18, 2022. In comparison, the S&P BSE Sensex was up 0.79 per cent