Rs 4,69,800 crore order book: This multibagger civil construction company bags approx. Rs 2,500 crore railway order to construct Jakarta Mass Rapid Transit Project
The stock is up by 67 per cent from its 52-week low and gave multibagger returns of 145 per cent in the last 3 years.
L&T Construction's Railways unit secured a major contract to build part of Jakarta's Mass Rapid Transit Phase 2A, marking their first such project in Southeast Asia. This 12.5km underground extension, partnered with Sojitz Corporation, will add 7 stations to the existing MRT Line.
L&T Ltd, a leader in turnkey design-build solutions for railways, has secured a significant project in Jakarta involving diverse systems across trackwork, power, signalling, and communication. This comprehensive project strengthens L&T's position in the ASEAN region, teeming with upcoming railway developments driven by ambitious government plans and rising investor interest. This win paves the way for L&T to secure further contracts in the region's flourishing railway sector.
Earlier, Larsen & Toubro Ltd secured a massive Rs 55,000 crore in orders within just 45 days, spanning diverse projects across India and the Middle East. Highlights include building a giant 1,800 MW solar plant in Dubai, constructing a 12.21 km bridge across the Brahmaputra River, and designing & building the high-speed railway electrification system for India's bullet train project. These wins strengthen L&T's presence in hydrocarbon, power, infrastructure, and construction sectors, showcasing its technical expertise and global reach.
DSIJ's 'Large Rhino' service recommends blue chip stocks of Large Cap companies that have leadership positions in their category. If this interests you, do download the service details here.
The company's robust order book, valued at Rs 4,69,800 crore as of December 31, 2023, underscores its strong market position and future growth prospects. This order book represents a 22 per cent increase from September 2022, with a well-balanced domestic and international mix, with 61 per cent of the orders coming from domestic clients and 39 per cent from international clients.
Today, the shares of Larsen and Toubro Ltd surged 2.6 per cent to an intraday high of Rs 3,477.65 per share from its previous closing of Rs 3,389.80. The stock’s 52-week high is Rs 3,738.90 while its 52-week low is Rs 2,083.05. The stock is up by 67 per cent from its 52-week low and gave multibagger returns of 145 per cent in the last 3 years. Investors must keep this Large-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
For more such updates on the go, Click here to join our WhatsApp Channel