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Wednesday, October 28, 2026Updated 14:29 UTC

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L&T shares rally 6% after Q2 net profit jumps 33% YoY. Why Jefferies cut target price?

Source: Economic Times · Oct 28, 2026 05:13 UTC

Trading floor of the New York Stock Exchange with banks of monitors — File photo Carol M. Highsmith / Library of Congress · Public domain · Source

The Quick Take

Larsen & Toubro (L&T) shares rose sharply on Wednesday after the company reported a 33% year-on-year rise in Q2 FY27 net profit to Rs 5,202 crore. Jefferies retained its Buy rating but cut the target price to Rs 4,700, citing weaker-than-expected margins and factoring in lower estimates.

Read the full story at Economic Times

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