Investors should exercise caution with L&T in the near term, as its performance is heavily dependent on the capital expenditure focus outlined in the upcoming Union Budget. Until clarity emerges from the budget, Chakri Lokapriya prefers Reliance Industries over L&T.

Chakri Lokapriya’s track record: 4 graded calls · 95% CI 0–49%

Reliance IndustriesNeutralCalled 14 Jan 2026Graded 19 Jul 2026