MUMBAI — Larsen and Toubro is worth ₹5.63 lakh crore. This morning ₹156 crore of it has changed hands. Steel Authority of India, a company a seventh its size, has traded ₹801 crore.
That is the most useful thing to say about L&T on Tuesday, because the price has done almost nothing. India’s largest engineering and construction group was quoted at ₹4,084.50 on the National Stock Exchange at 11:49 IST, down ₹5.50 or 0.13 percent on Monday’s close, and at ₹4,081.10 on the BSE. It opened at ₹4,085.00, has ranged between ₹4,066.60 and ₹4,095.00, and has turned over 3.81 lakh shares. That is 23.9 percent of an average full day, a pace of 0.58 times normal, and the lightest turnover of any of the seventeen large Indian companies this series follows. These are live intraday figures from a session that runs to 15:30.
Eight sessions have now closed or traded inside a band of roughly one percent. That is not indifference to the business, which is growing its order book faster than it can grow revenue. It is indifference to the price, which is a different thing and arguably a more interesting one.
L&T Share Price Today: NSE and BSE Live Quote, August 25, 2026
| Measure | NSE · LT | BSE · 500510 |
|---|---|---|
| Last traded price | ₹4,084.50 | ₹4,081.10 |
| Previous close (August 24) | ₹4,090.00 | ₹4,085.30 |
| Change so far | -₹5.50 (-0.13%) | -0.10% |
| Open | ₹4,085.00 | – |
| Session high so far | ₹4,095.00 | – |
| Session low so far | ₹4,066.60 | – |
| Volume so far | 3.81 lakh shares | – |
| Turnover so far, by value | About ₹156 crore | |
| 52-week high | ₹4,440.00 (8.01% above the current price) | |
| 52-week low | ₹3,288.10 (+24.22% from the current price) | |
| Market capitalisation | ₹5,63,411 crore, at Monday’s close | |
| Trailing P/E · Price to book | 32.0 · 5.15 | |
| Book value per share · Return on equity | ₹794 · 15.9% | |
| Live intraday figures captured at 11:49 IST on August 25, 2026, about 154 minutes into a session that runs to 15:30. These are last traded prices, not closing prices, and they will change. Turnover by value is calculated by The Eastern Herald as shares traded multiplied by the current price, which approximates rather than replicates the exchange’s own volume-weighted figure. The BSE quote feed does not publish an intraday open, high and low. Valuation ratios and market capitalisation are Screener’s, struck at Monday’s close. | ||
What the Money Is Doing Instead
The useful comparison is not L&T against itself. It is L&T against where the day’s money has actually gone.
| Company | Turnover so far | Share of a normal full day | Pace |
|---|---|---|---|
| Steel Authority of India | ₹801 crore | 222.7% | 5.42x |
| State Bank of India | ₹494 crore | 46.6% | 1.13x |
| Tata Consultancy Services | ₹363 crore | 46.0% | 1.12x |
| HDFC Bank | ₹338 crore | 18.0% | 0.44x |
| ICICI Bank | ₹301 crore | 20.7% | 0.50x |
| Reliance Industries | ₹252 crore | 18.6% | 0.45x |
| Larsen and Toubro | ₹156 crore | 23.9% | 0.58x |
| Calculated by The Eastern Herald from live NSE volumes at 11:49 IST multiplied by the price at that moment. The share of a normal full day compares shares traded so far against the average full-day volume of the past twenty sessions; the pace column extrapolates that to a whole session on a straight-line basis. Morning trade is normally heavier than afternoon trade, so every pace figure here reads high. | |||
SAIL is worth ₹73,996 crore. L&T is worth ₹5,63,411 crore, seven and a half times as much, and has traded a fifth of the money. Relative to size, the steel mill is turning over roughly forty times as fast as the engineering group. Some of that is a one-day event in a mid-cap that moves on volume; L&T does not move on volume and never has. But it is a reminder that a stock can be an index heavyweight and still be, on any given morning, close to untraded.
Larsen & Toubro Stock Code on NSE, BSE and Global Data Feeds
| Exchange or provider | Code | Notes |
|---|---|---|
| NSE (National Stock Exchange) | LT | Series EQ. Nifty 50 constituent |
| BSE (Bombay Stock Exchange) | 500510 | Scrip code. Group A, BSE Sensex constituent |
| ISIN | INE018A01030 | Depository identifier. Face value ₹2 |
| Google Finance | NSE:LT · BOM:500510 | The exchange-prefixed format Google requires |
| Yahoo Finance | LT.NS · LT.BO | Suffix marks the exchange |
| ISIN, scrip code and face value confirmed against the BSE company header feed. Larsen and Toubro was founded in 1938 by two Danish engineers and is headquartered in Mumbai. It has no identifiable promoter group; the largest holdings sit with the L&T Employees Welfare Foundation and domestic institutions. | ||
The Order Book Is Growing Four Times Faster Than the Revenue
| Measure | Figure | Basis |
|---|---|---|
| Order inflow for the quarter | ₹1,08,014 cr | As reported |
| Revenue for the quarter | ₹67,942 cr | As reported, up 7% |
| Book-to-bill for the quarter | 1.59 | Inflow divided by revenue |
| Order book at June 30 | ₹7,78,954 cr | As reported, up 27% |
| Revenue run rate, annualised | ₹2,71,768 cr | June quarter multiplied by four |
| Years of work in hand | 2.87 | Order book divided by the run rate |
| International share of the order book | 52% | As reported |
| Book-to-bill and years of work in hand are calculated by The Eastern Herald from the company’s reported figures. Annualising a single quarter is a rough device: L&T’s revenue is seasonal, with the March quarter typically its largest, so the true order-book cover is somewhat shorter than 2.87 years. | ||
For every rupee of work L&T finished in the June quarter it signed up ₹1.59 more. An order book growing 27 percent against revenue growing 7 percent cannot stay that far apart indefinitely, and which rate converges on the other is precisely what 32 times earnings is a bet on. That multiple is the highest of any company in this series, above Reliance Industries at 23.8 and more than double Tata Consultancy Services at 15.4. It is not being paid for a 15.9 percent return on equity, which ICICI Bank matches at a fraction of the multiple. It is being paid for the book.
More Than Half a Foreign Company
International work is 51 percent of revenue, 56 percent of the quarter’s new orders and 52 percent of the order book. Larsen and Toubro is no longer principally a play on Indian capital expenditure. It is a global contractor that happens to be listed and headquartered in Mumbai, with the majority of its work in the Middle East, Europe and elsewhere.
That carries two consequences the domestic framing hides. Revenue earned in dollars, euros and Gulf currencies and reported in rupees benefits when the rupee weakens, and the company flagged foreign exchange as a source of margin pressure this quarter, which cuts the other way on cost. And it names disruptions in the Middle East as a drag on margin. A contractor with more than half its book abroad carries a geopolitical exposure that no amount of Indian infrastructure spending offsets.
L&T Share Price: Eight Sessions in a One Percent Band
| Date | Close (₹) | Change | Volume |
|---|---|---|---|
| August 14, 2026 | 4,057.00 | -0.34% | 9.34 lakh |
| August 17, 2026 | 4,086.70 | +0.73% | 10.66 lakh |
| August 18, 2026 | 4,064.30 | -0.55% | 13.56 lakh |
| August 19, 2026 | 4,041.30 | -0.57% | 11.91 lakh |
| August 20, 2026 | 4,081.00 | +0.98% | 10.56 lakh |
| August 21, 2026 | 4,093.00 | +0.29% | 12.59 lakh |
| August 24, 2026 | 4,090.00 | -0.07% | 13.69 lakh |
| August 25, 2026, at 11:49 IST | 4,084.50 | -0.13% | 3.81 lakh so far |
| NSE closing prices and volumes; the final row is live intraday and not a close. Eight sessions inside ₹4,041 to ₹4,095, a band of 1.3 percent, on turnover that has barely varied until Tuesday, when it fell away. | |||
₹4,041.30 on August 19 remains the low of the stretch and has not been retested; Tuesday’s ₹4,066.60 came no closer than 25 rupees. ₹4,095.00 capped the morning, four rupees above where Monday stopped. The 52-week high of ₹4,440 is 8.0 percent above the current price, which still makes L&T one of the closer large caps to its own peak.
What this article cannot tell you is what the order book is worth at the margin line. L&T publishes inflow and order book in headline form but does not break the book down by expected margin, so there is no way to know whether ₹7,78,954 crore of contracted work is more or less profitable than the ₹6,13,000 crore of it a year ago. The company has flagged margin pressure from the Middle East and from currency without quantifying either. And the offshore wind orders from Europe are new territory for the group at this scale, which puts the least track record behind the fastest-growing part of the book. A book-to-bill of 1.59 is an excellent problem to have. Whether it is an excellent business depends on numbers L&T has not published, and on a quiet Tuesday morning almost nobody is trying to find out.
L&T’s June-quarter figures are drawn from the company’s Q1 FY2026-27 results and investor presentation of July 28, 2026. Intraday prices, volumes and the scrip identifiers were checked against the exchange’s own quote page for scrip 500510.
Related Posts
