LIC backed multibagger stock with Rs 4.76 trillion order book: This infrastructure stock bags new order of about Rs 2,500 crore for Two Fleet Support Ships!

Shares of the company have gained more than 40 per cent in the last one year.

Larsen & Toubro (L&T) has secured a significant order to participate in the construction of two Fleet Support Ships (FSS) for the Indian Navy.  FSS are massive naval vessels exceeding 220 meters in length and will provide crucial logistical support for the Indian Navy's operations. This win aligns with the Indian government's Aatmanirbhar Bharat (Self-reliant India) initiative.  These first-of-their-kind vessels built domestically will be constructed simultaneously at both shipyards to meet tight deadlines. This collaborative approach aims to strengthen India's maritime capabilities and enhance its naval fleet while promoting economic activity and technological advancements. This order is expected to be worth Rs 1,000 crore to Rs 2,500 crore.

Recently, Larsen & Toubro secured a mega contract in the Middle East, further strengthening its renewable energy portfolio. The company's renewable arm has finalized agreements to build two massive solar photovoltaic (PV) plants with a combined capacity of 3.5 Gigawatt (GW). This order is expected to be worth Rs 10,000 crore to Rs 15,000 crore.

Larsen & Toubro is a major technology, engineering, construction, manufacturing, and financial services conglomerate, with global operations. The company has an order book of Rs 4.76 trillion. The stock has also delivered multibagger returns of about 140 per cent in the last three years. DIIs have also increased their stake in the company in March 2024. LIC has more than 11 per cent stake in the company.

The stock has shown impressive growth, and investors should keep a close eye on this stock. 

Disclaimer: The article is for informational purposes only and not investment advice.