Motilal Oswal targets Larsen & Toubro stock at INR 4,400

Published on 10/12/2026 at 11:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Motilal Oswal kept a Buy rating and set INR 4,400 on October 7, 2026. Larsen & Toubro stock had INR 5.0 trillion market cap on October 12, 2026.

Key points in brief

Motilal Oswal kept a Buy rating and set an INR 4,400 target for Larsen & Toubro on October 7, 2026.
Larsen & Toubro secured power transmission orders valued at up to INR 150 billion across India and West Asia.
The company reported an INR 5.0 trillion market capitalization and an INR 3,288.10 to INR 4,440.00 52-week range as of October 12, 2026.
Execution across a 1,600 MW thermal plant order and international projects remains central to the investment case.

Larsen & Toubro, INE018A01030, Illustration mit AI erstellt.

Larsen & Toubro (ISIN INE018A01030) had an INR 4,400 price target in Moneycontrol's report on October 7, 2026, which said Motilal Oswal reiterated a Buy rating. The report placed the target against an order book of INR 7.8 trillion as of June 2026.

Three orders shape the story

On August 13, 2026, Larsen & Toubro announced a mega order linked to an Nvidia B300 AI factory that is expected to house 10,000 chips, according to EquityPandit.

On September 9, 2026, its offshore business secured an ONGC contract valued at USD 500 million to USD 1.0 billion, as reported by OIcharts. On October 8, 2026, Construction World reported power transmission and distribution orders valued at up to INR 150 billion across India and West Asia.

What does INR 150 billion mean?

The latest awards cover 380 kV transmission and substation work in Saudi Arabia, 132/11 kV substations in the United Arab Emirates and a transmission system in Visakhapatnam, according to Construction World. The scope gives the power transmission business a mix of domestic and international execution work rather than a single project concentration.

Execution remains the key counter-factor. Moneycontrol said Motilal Oswal had identified West Asia disruption in onshore, hydrocarbon and solar work, while the brokerage expected core engineering, procurement and construction order inflows and revenue to grow at 10 percent and 14 percent compound annual growth rates over fiscal years 2026 to 2029.

Results dates set the next test

An IPO Bulletin report dated September 18, 2026 identified October 28, 2026 as the Q2 FY27 earnings board meeting. A Univest analysis dated September 17, 2026 placed November 14, 2026 as the statutory outer deadline for the September 2026 quarter results.