LT share price edges north on company’s fundraise move. Do you own?

Stock market today: Ahead of the board meeting scheduled today to consider the proposal for raising funds, Larsen and Toubro's (LT) share price edged higher in the early morning session on Friday. LT share price opened upside at ₹3,357 per share on the NSE and touched an intraday high of ₹3,376.30 apiece within a few minutes of the Opening Bell, logging an intraday gain of around one per cent.

LT fundraise news

LT said in an exchange filing that it would inform the Indian stock market exchanges about the move to raise funds. "We wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, March 21, 2025, inter alia, to seek approval for fundraising by way of (the) debt issue."

LT share price history

After edging lower on Monday, the LT share price has risen for the last four sessions. On the NSE, it has risen from ₹3,175.55 per share to ₹3,378 apiece, recording a rise of around 6.50 per cent in these four sessions. In YTD time, the LT share has delivered zero return by logging around 8 per cent dip due to the market crash in February 2025. However, the stock has remained in the base-building mode for the whole year. It has shed over 5 per cent in one year, but it is still one of the multibagger stocks the Indian stock market has delivered in the last five years. LT share price has risen around 300 per cent in the last five years.

In Q3FY25 results, LT reported a 14% year-on-year rise in its consolidated net profit (attributable to company owners) for the fiscal third quarter ended December (Q3FY25) to ₹3,358.84 crore. The company had reported a profit of ₹2,947.36 crore in the year-ago period. Sequentially, the consolidated net profit was down 1.07%. L&T shares ended nearly 1% down at ₹3,419.80 apiece on BSE.

L&T's consolidated revenue from operations stood at ₹64,667.78 crores during the quarter ended December (Q3FY25) from ₹55,127.82 crore in Q3FY24, a year-on-year rise of 17.3%. Sequentially, the revenue was up by 5.1%.

The company reported in an exchange filing that it recorded consolidated revenues of ₹64,668 crore for the quarter ending December 31, 2024, marking a year-on-year increase of 17% driven by a robust order book and increased execution activity in its Projects & Manufacturing (P&M) sectors.

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