Larsen & Toubro trades higher for third straight day, up 5%

Larsen & Toubro trades higher for third straight day, up 5% in a week


Shares of Larsen & Toubro (L&T) were trading higher for the third straight day, up nearly 3 per cent at Rs 1,458 on the BSE in intra-day trade on Monday. The stock of the engineering and construction giant has gained 5 per cent in the past one week as compared to a 2 per cent gain in the S&P BSE Sensex. It was quoting at its highest level since March 18, 2021.
From October 2020 to February 2021, the stock witnessed an impulsive upmove towards Rs 1,600. It had hit a 52-week high of Rs 1,593 on February 2, 2021. Since then, it has remained largely range-bound amid time and price-based correction. In the past three months, L&T has underperformed the market by falling 5 per cent, as compared to a marginal 0.18 per cent decline in the benchmark index.

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