India's Larsen & Toubro up on commissioning hydrogen electrolyzer in Gujarat

ABB India

01/03/2024 05:40

** Shares of Larsen and Toubro  LART.NS  up 3% at 3,577
rupees, highest in over a month 
    ** Engineering and construction company's unit, L&T
Electrolysers commissioned hydrogen electrolyser at plant in the
western state of Gujarat 
    ** Stock has been trading above its 200-day simple moving
avg since August 2022
    ** Analysts' avg rating on stock is "Buy", peers Bharat
Heavy Electricals  BHEL.NS  and ABB India  ABB.NS  are rated
"Hold"- LSEG
    ** Median PT of 4,050.5 rupees on LART is at 16.5% premium
to last close
    ** LART up 5.4% this week, on track for highest weekly gain
since early Dec., outpacing 1.7% and 2.1% rise in BHEL and ABB 


 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))