On Monday, shares of Larsen and Toubro rose on strong June quarter results.

The L&T stock rose as much as 4 per cent to Rs 1,207.50, in their biggest intraday percentage gain since May 25.

At about 9.50 am, the stock was quoting at Rs 1,196.50, up 3.23 per cent on the BSE.

The company has reported a 46 per cent rise in June quarter net profit on Friday, boosted by higher revenue from infrastructure business.

The positive highlight of results was strong pick-up in domestic infrastructure execution and infrastructure ordering - Nomura analysts said in note. It has raised the price target to Rs 1,285 from Rs 1,270.

Larsen & Toubro said revenue from infrastructure unit rose 15.5 per cent to Rs 10,728 crore.

The company was on track to achieve guidance on order inflow. It has a robust order backlog which can ensure good margins in future, according to the company.

The stock has risen 29.1 per cent this year, as of Friday's close.