Larsen & Toubro stock holds near INR 3,898 on September 21, 2026

Larsen & Toubro stock (INE018A01030) traded at INR 3,898.10 on September 21, 2026, with a market capitalization of INR 535,984.09 crore and 449,847 shares changing hands, according to Economic Times. NSE data put the stock at INR 3,885.00 on September 18, 2026, a gain of 1.27 percent on the day.

FY2026 gave the base

On September 21, 2026, Business Outreach cited L&T's FY2026 annual report and said standalone total income reached INR 161,038.62 crore, up 8.68 percent year on year, while order inflow climbed 22 percent to INR 435,590 crore. The same report context put consolidated revenue at about INR 2.86 lakh crore and core operating margin at 8.3 percent for the year.

That margin sat below management's earlier 8.5 percent guidance by 0.2 percentage points. For investors, the gap matters because the top line and order flow expanded while profitability lagged the target.

Valuation stays elevated

MarketsMojo said on September 21, 2026 that Larsen & Toubro's current P/E stood at 29.81, about 28 percent below the industry's 41.54, and that the rating was updated from Hold on September 16, 2026 to a Sell grade. The same update assigned a Mojo Score of 47.0.

At INR 3,898.10, the stock traded slightly above the INR 3,885.00 NSE reference level from September 18, 2026. The current market value and the FY2026 order build-up point to a stock that is still priced for quality execution.

Price and scale

As of September 21, 2026, Larsen & Toubro stock traded at INR 3,898.10 on the NSE, with market capitalization at INR 535,984.09 crore and volume at 449,847 shares. The stock's FY2026 order inflow of INR 435,590 crore gives the price action a clear operating backdrop.

More news and analyses on Larsen & Toubro stock