Shares of engineering and construction major L&T rose to over 1-1/2-year high on better Q4 profit.
Larsen & Toubro Ltd rose as much as 2.9 per cent to Rs 1,833.95, highest since August 10, 2015.
Multiple brokerages have raised price target on the stock after the company reported a bigger-than-expected 28 per cent rise in Q4 consolidated net profit.
The company's infrastructure segment has generated higher revenue.
Expansion of core engineering and construction margins, and lower working capital as a percentage of revenue make up for negatives including weak domestic revenue growth, lower-than-expected orderflows, Investec analysts said in a note.
Q4 profit rise was driven by lower interest costs and tax rate, Jefferies analysts said in a note.
Up to Monday's close, stock has risen 32 per cent this year.