Rs 4.13 lakh crore order book: This multibagger civil construction company receives order worth US$ 3.9 billion from Saudi Aramco; stock hit 52-week high!

In just 2 days, the stock has gained over 7 per cent.

Larsen & Toubro Ltd (L&T Ltd) has secured a multi-billion-dollar contract worth US$ 3.9 billion (approx. Rs 32,400 crore) from Saudi Aramco for Phase II of the Jafurah unconventional gas development. The order is for two packages: A gas processing plant along with main process units (Package-1: US$2.9 billion) and Gas compression units (Package-3: US$1 billion).

Larsen & Toubro Ltd. is a multinational conglomerate that is primarily engaged in providing EPC solutions in key sectors. The company announced its Quarterly Results ended June 30, 2023 wherein the net sales increased by 33.55 per cent to Rs 47,882 crore and net profit increased by 39 per cent to Rs 3,096 crore in Q1FY24 over Q1FY23. As of June 30, 2023, the company order book stands at Rs 4.13 lakh crore.

According to the annual results, the net sales increased by 17.1 per cent to Rs 1,83,341 crore and the net profit increased by 20.3 per cent to Rs 12,531 crore in FY23 compared to FY22.

On Friday, the shares of Larsen and Toubro Ltd surged 2.85 per cent to make a new 52-week high of Rs 2,927.95 per share from its previous closing of Rs 2,847.05. In just 2 days, the stock is up over 7 per cent.

The shares of the company spurt in volume by more than 2.05 times on BSE. The company has been maintaining a healthy dividend payout of 37.20 per cent. The stock is up by 50 per cent in 1 year and gave multibagger returns of over 220 per cent in the last 3 years. Investors must keep this stock on their watch list. 

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