L&T Stock Surges Amid Impressive Quarterly Profit Growth

Larsen and Toubro (L&T) shares leapt over 6% following a report of a 5% hike in consolidated profit after tax for the quarter ending September 2024. The company's valuation soared as the stock emerged as the top gainer on Sensex, supported by strong order books and increased income.

Larsen and Toubro (L&T) witnessed a significant boost in its stock performance, rising over 6% after posting a 5% increase in consolidated profit after tax for the quarter ending September 30, 2024.

The company's shares saw a notable rise, closing at Rs 3,624.40 on the BSE, with a day's high of Rs 3,654.95. On the NSE, shares surged to Rs 3,620.75 each, marking L&T as the top share gainer among the 30-share Sensex firms.

Backed by a robust order book exceeding Rs 5 lakh crore and a rise in consolidated income to Rs 62,655.85 crore, L&T's market valuation saw a substantial increase, highlighting its strength in engineering, construction, and project management sectors, despite ongoing global economic challenges.

(With inputs from agencies.)