Larsen & Toubro Ltd Share Price – NSE /  BSE

Infrastructure Developers & Operators, Mid Cap

At the India AI Summit, Larsen & Toubro (L&T) today announced a proposed venture under the India AI Mission to build sovereign, scalable GW-scale NVIDIA AI factory infrastructure to reinforce India's position as a global AI powerhouse.

This partnership is aimed at India's enterprises, policymakers, industry leaders, global off takers, and analysts seeking production-grade AI capacity anchored in India's digital and industrial transformation.

It integrates L&T's engineering, infrastructure development, and execution with NVIDIA AI infrastructure including NVIDIA GPUs, CPUs, Networking, NVIDIA-accelerated storage platforms from leading providers, the NVIDIA AI Enterprise software stack, and reference architectures to enable rapid, secure AI adoption. It will deploy AI-ready datacenter infrastructure, advanced computing platforms, and ecosystem enablement required to support large-scale AI workloads across priority sectors.

In alignment with the IndiaAI Mission, this venture will support the creation of sovereign AI infrastructure that allows critical data, models, and AI workloads to be built, trained, and deployed within India, while remaining interoperable with global ecosystems. This sovereign by-design fabric is intended to serve domestic requirements, global hyperscalers, cloud providers, and enterprises looking to deploy large-scale AI capacity from India as a strategic hub.

The venture plans to develop gigawatt-scale AI data center factory, providing AI-ready capacity for high-density, next-generation workloads so customers can expand in India efficiently and sustainably.

The venture will scale NVIDIA GPU cluster deployment at its Chennai DC up to 30 MW capacity in its 300 acres Gigawatt scalable campus & at the new 40 MW Datacenter in Mumbai currently under execution.

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The Transportation Infrastructure business vertical of L&T has secured a significant contract for the improvement of Latifa Bint Hamdan Street in Dubai, UAE. The order pertains to the Phase-1 of the road development initiative undertaken by the UAE authorities. As per the company's project classification, the value of the order ranges between Rs 1,000 crore to Rs 2,500 crore.

The scope of the project includes upgrading the existing road corridor stretching from Emirates Road (E611) to Sheikh Mohammed Bin Zayed Road (E311). The work involves widening the current two‑lane dual carriageway into a four‑lane dual carriageway in each direction to enhance network capacity and ease traffic flow.

A significant feature of the project will be the construction of a major structural interchange at E311, designed to enable seamless traffic movement across all directions.

Beyond the interchange, the corridor will be extended with a new four‑lane dual carriageway along Latifa Bint Hamdan Street. The development also includes a dedicated interchange to facilitate U‑turn movements and provide improved access to developments located on both sides of the corridor. The project is scheduled to be completed in 36 months.

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The contract has been classified as 'significant', implying an order value in the range of Rs 1,000 crore to Rs 2,500 crore.

The order relates to Phase I of the improvement of Latifa Bint Hamdan Street, awarded by UAE authorities. The project involves upgrading the existing corridor from Emirates Road (E611) to Sheikh Mohammed Bin Zayed Road (E311) by widening the current two-lane dual carriageway into a four-lane dual carriageway in each direction to improve traffic capacity and flow.

The scope also includes construction of a major structural interchange at E311 to enable seamless traffic movement in all directions, extension of the corridor with a new four-lane dual carriageway, and a dedicated interchange to facilitate U-turns and improve access to adjoining developments. The project is scheduled for completion within 36 months.

L&T is an Indian multinational engaged in EPC projects, hi-tech manufacturing, and services, operating across multiple geographies.

On a consolidated basis, L&T's net profit declined 4.27% year-on-year to Rs 3,215.11 crore in Q3 FY26, even as revenue from operations rose 10.48% to Rs 71,449.70 crore in Q3 FY26.

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The key equity indices trade with moderate losses amid profit booking and mixed cues from global markets as cautious investor sentiment overshadowed optimism over the conclusion of the India?EU free trade agreement (FTA) and positive economic data. Participants are keeping a close watch on the rupee?s movement, ongoing Q3 corporate earnings, and evolving geopolitical developments.

Investors are also awaiting quarterly results from ITC, Tata Motors, and Vedanta, due later today, along with the upcoming Union Budget 2026 scheduled for February 1, 2026. Meanwhile, the Nifty traded below the 25,300 level.

Consumer durables shares declined after advancing in the past trading session.

At 11:25 IST, the barometer index, the S&P BSE Sensex declined 238.75 points or 0.29% to 82,108.31. The Nifty 50 index fell 74.70 points or 0.30% to 25,267.90.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.42% and the S&P BSE Small-Cap index fell 0.71%.

The market breadth was weak. On the BSE, 1,425 shares rose and 2,478 shares fell. A total of 185 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.09% to 13.67.

Economy:

India?s industrial production rose to a 26-month high of 7.8% in December, up from 7.2% in November, according to data released by the government on January 28. The sharp pickup was driven by a broad-based acceleration across manufacturing, capital goods and infrastructure-linked segments, signalling resilient momentum at the end of the calendar year.

Buzzing Index:

The Nifty Consumer Durables index declined 1.74% to 33,575.45. The index advanced 0.64% in the past trading session.

Titan Company (down 2.54%), Centruyply (down 2.28%), Amber Enterprises (down 2.15%), Voltas(down 2.03%), PG Electroplast (down 1.40%), Crompton Greaves Consumer Electricals (down 1.55%) declined.

Stocks in Spotlight:

Larsen & Toubro added 3.54% after the company reported a 17.78% jump in standalone net profit to Rs 2,832.08 crore on 8.34% increase in revenue from operations to Rs 37,902.84 crore in Q3 FY26 over Q3 FY25.

Sagility fell 2.79%. The company reported a 23.4% increase in consolidated net profit to Rs 267.66 crore on a 35.7% rise in revenue from operations to Rs 1,971.15 crore in Q3 FY26 over Q3 FY25.

Global Markets:

Asia market mostly traded lower on Thursday after the U.S. Federal Reserve overnight kept its benchmark rate steady at a target range of 3.5% to 3.75%.

Investors will be keeping an eye on developments in Indonesia after the benchmark Jakarta Composite plunged over 8% on Wednesday after index provider MSCI had issued a statement warning of a potential downgrade of the country to frontier-market status.

Meanwhile, Singapore?s central bank left its monetary policy unchanged Thursday, while warning of upside risks to inflation and demand as the city-state?s economic outlook stays resilient. The country?s benchmark Straits Times Index inched 0.19% higher.

Overnight in the U.S., the S&P 500 reached a milestone level, hitting 7,000 for the first time, before pulling back as the Federal Reserve left interest rates unchanged and upped its economic growth assessment.

The broad market index ended the day down 0.01% at 6,978.03. Earlier, the S&P 500 was up 0.3% on the day, hitting an all-time intraday high of 7,002.28.

The Dow Jones Industrial Average added 0.02% to close at 49,015.60. The Nasdaq Composite outperformed and gained 0.17%, settling at 23,857.45.

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