Same Employees, Two Currencies: L&T Tech's Revenue Per Head Is Up 9% In Rupees, 0.4% In Dollars

Larsen & Toubro reported Rs 12.65 lakh and Rs 11.62 lakh, with movement of 9% and 0.4% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.

Against that, the stock is +1.0% on the day at ₹3,661.90, and has returned -4.1% over three months. It sits 17% below its 52-week high. The infrastructure sector has moved -14.1% over the same period, so Larsen & Toubro is running 10.0 points ahead of its peers.

For Larsen & Toubro, the question is how much of this is already reflected in the price and how much re-rates the infrastructure peer set alongside it.