L&T hits new high

A big star is a bigger star today – L&T. While many large caps might not move much, this elephant when it moves, really moves.

The stock today, even in this market, hit a new 52-week high and all-time high of Rs.4,062.50, following robust Q2FY26 results and upbeat commentary from brokerages highlighting its record order book and sustained execution momentum. L&T has now gained over 7% in the past week, extending its October rally and emerging as a top performer within the capital goods space.

For Q2FY26, L&T reported consolidated revenue of Rs.55,900 crore, up 18% (YoY), driven by broad-based growth across infrastructure, hydrocarbons, and energy projects. EBITDA margin stood at 11.2%, while net profit rose 16% to Rs. 3,240 crore, broadly in line with Street expectations. The company reported order inflows of Rs.72,200 crore, taking its consolidated order book to Rs.5.10 lakh crore, the highest ever, ensuring multi-year visibility for execution and earnings growth.

L&T remains one of the best structural play on India’s infrastructure and manufacturing capex upcycle, backed by a strong balance sheet, robust order visibility, and exposure to high-growth segments like defence, renewables, and hydrocarbons. The company’s consistent execution discipline and healthy margin profile support premium valuations in the capital goods sector.

L&T’s market capitalisation crossed Rs.5.6 lakh crore intraday, reaffirming its leadership position among capital-goods peers such as Siemens, ABB India, and BHEL.