Larsen & Toubro's stock is witnessing a tremendous rise today. On the day of Diwali, this stock remains the fastest stock of Nifty. Just a day ago, the company has released the results of the second quarter of the financial year 2024. On a year-on-year basis, the company's results have been better on all fronts during the months of July-September, after which this stock is witnessing a rise amid weakness in the market.

L&T's results have been better than expected. The stock seems to be getting a boost from the management's commentary after the results. The management has maintained its guidance of 10% for order inflow growth in the financial year 2025. It has also maintained 15% income growth guidance and core margin guidance at 8.25%.

Before the results were released, L&T has been downgraded two times in the last one month. UBS and HSBC had expressed concern about the company's order inflow. L&T's total order book till the second quarter is ₹5.1 lakh crore. In the September quarter itself, the company has received orders worth ₹81,000 crore. Bernstein's opinion on L&T Global brokerage firm Bernstein said in a report on L&T that the company's execution has been strong in another quarter. But, the decline in order inflow is not a surprise. Margins are being compensated through execution and strong working capital. It is also getting support from order inflow. Bernstein has set a target price of ₹3,891 per share on L&T with an Outperform opinion. Nomura's opinion on L&T Nomura said that the risk-reward looks reasonable. This brokerage firm has set a target price of ₹4,100 per share on the stock with a Buy rating. After the September quarter results, Nomura is confident that the company will meet the order inflow guidance. CLSA's opinion on L&T This brokerage firm has set a target price of ₹4,151 per share on the stock with an Outperform opinion. CLSA said that the surprise in the second quarter shows the strength of the company's business model. The market may be surprised by the expansion of 60 basis points in the infrastructure segment. L&T is included in the coverage list of about 35 analysts. In this, 30 analysts have a Buy rating on the stock. While 4 have given the opinion of Hold. Only one analyst has given a Sell opinion on the stock. L&T's stock has recovered from the decline in the year 2024 and has returned to the positive zone.