Larsen & Toubro Shares Rise 4.4% After Q1 Profit Jumps 29.8%; Brokerages Raise Target to ₹4,450

Larsen & Toubro (L&T) shares rose 4.4% to ₹3,650.9 following the company’s strong Q1 fiscal 2026 results, which showed a 29.8% year-on-year increase in profit to ₹3,617.2 crore and a 15.5% rise in revenue. Brokerages responded positively, raising target prices for L&T shares to as high as ₹4,450, citing robust order inflows and improving margins. Meanwhile, Morgan Stanley maintained an 'underweight' rating on Asian Paints with a target price of ₹1,909. MOSL revised target prices for several stocks: GAIL’s target was lowered slightly to ₹210 from ₹215 with a 'buy' rating maintained; Asian Paints was assigned a neutral rating with a target price of ₹2,500; and Piramal Enterprise’s target price was increased to ₹1,315 from ₹1,250, with a neutral rating maintained. These updates reflect a mixed outlook from brokerages on key Indian stocks amid ongoing market developments.