/images/ppid_59c68470-image-177563258102163002.webp)
/images/ppid_a911dc6a-image-17758272362364306.webp)
What is the story about?
Shares of Larsen and Toubro Ltd. (L&T) gained 8% on Wednesday, April 8, after the US and Iran announced a ceasefire for two weeks. This is the biggest single-day gain for the stock since February 2021. The stock has gained in four out of the last five trading sessions.
L&T has significant exposure to the West Asia region, with 37% order book exposure and 33% to order inflows exposure in the nine months of the financial year 2026.
As much as 49% of its consolidated order book was from the international business. Of this, 80% was from UAE, Saudi Arabia and the Gulf region.
Two weeks ago, L&T had given an update regarding its 100 operating sites in the Gulf region in all segments. As much as 95% of these sites were business as usual, while 5% of them were suspended or disrupted.
On Tuesday, brokerage firm JM Financial cut its price target on L&T to ₹4,380 per share from ₹4,655 apiece, while maintaining its 'buy' rating. It said the long-term outlook for L&T's business remains robust with no news of project cancellations or payment delays. However, the West Asia crisis impacts its near-term prospects, given its significant exposure to the Gulf region.
L&T shares gained 8% to hit an intraday high of ₹4,023.4 apiece on Wednesday. The stock has risen for four out of the last five trading sessions. The stock, which had entered bear market territory just last week and was down 3.1% over a month as on Tuesday, has now recovered its losses and is up 4.5% in the past month.
It is also now just 6.3% away from ₹4,023.4 apiece, the level that it was on February 27, a day before the Iran war started.
Also Read: Ashok Leyland shares gain most in six years with 13% jump, extend streak to third day
L&T has significant exposure to the West Asia region, with 37% order book exposure and 33% to order inflows exposure in the nine months of the financial year 2026.
As much as 49% of its consolidated order book was from the international business. Of this, 80% was from UAE, Saudi Arabia and the Gulf region.
Two weeks ago, L&T had given an update regarding its 100 operating sites in the Gulf region in all segments. As much as 95% of these sites were business as usual, while 5% of them were suspended or disrupted.
On Tuesday, brokerage firm JM Financial cut its price target on L&T to ₹4,380 per share from ₹4,655 apiece, while maintaining its 'buy' rating. It said the long-term outlook for L&T's business remains robust with no news of project cancellations or payment delays. However, the West Asia crisis impacts its near-term prospects, given its significant exposure to the Gulf region.
L&T shares gained 8% to hit an intraday high of ₹4,023.4 apiece on Wednesday. The stock has risen for four out of the last five trading sessions. The stock, which had entered bear market territory just last week and was down 3.1% over a month as on Tuesday, has now recovered its losses and is up 4.5% in the past month.
It is also now just 6.3% away from ₹4,023.4 apiece, the level that it was on February 27, a day before the Iran war started.
Also Read: Ashok Leyland shares gain most in six years with 13% jump, extend streak to third day
/images/ppid_59c68470-image-177582756582766471.webp)
/images/ppid_59c68470-image-17758275303926994.webp)
