ET Intelligence Group: Shares of Larsen & Toubro (L&T) have declined 3.6% over the past month amid broader market volatility. However, analysts remain bullish on the stock, projecting 13-16% upside from Friday's closing price of Rs 3,915, supported by the company's record order book of Rs 7.8 lakh crore as of June 2026, robust capital expenditure demand and a growing presence in the offshore wind segment. While geopolitical tensions and logistics disruptions in West Asia affected execution during the June 2026 quarter, L&T said no major projects had been cancelled. It expects execution momentum and order inflows to improve in the second half of FY27.