Rs 4,12,648 crore order book: This multibagger makes headlines with acquisitions, joint venture and multiple order wins!
The stock has witnessed significant buying activity in the last 3 years as it has surged more than 192 per cent.
On July 26, 2023, the shares of Larsen & Toubro Limited soared 3.30 per cent, the stock hits fresh 52-week high mark of Rs 2673.60 per share on BSE. The scrip witnessed a massive spurt in volume by more than 4.12 times.
Recently, Larsen & Toubro's Power Transmission & Distribution Business won new orders both domestically and internationally.
On the domestic front, Larsen & Toubro's Power Transmission & Distribution Business has secured an order to implement SCADA/DMS (Supervisory Control and Data Acquisition/Distribution Management System) and related IT infrastructure for power distribution systems in central Gujarat's urban areas. The project's scope includes Information Storage & Retrieval, Front End Processing, Outage Management, Network Management, Dispatcher Training Simulation, Local Data Monitoring, and other necessary security systems.
Additionally, Larsen & Toubro's Power Transmission & Distribution Business has also secured an order to construct a 400kV Double Circuit Transmission Line in Jharkhand. The 133 KM line is crucial for the efficient evacuation of power from a generating station.
In the Middle East, Larsen & Toubro's Power Transmission & Distribution Business has been awarded a significant order to construct a ±525kV High Voltage Direct Current (HVDC) transmission segment. This transmission link is a crucial component of a Large-Capacity, Voltage Source Converter (VSC) based HVDC system, which will connect Neom Industrial City and Yanbu city in western Saudi Arabia.
In the Sarawak region of Malaysia, Larsen & Toubro's Power Transmission & Distribution Business, as part of a consortium, has secured an order to establish a 275kV Substation. Upon completion, this project will significantly enhance power supply reliability in major load centers on the northwest coast of the island of Borneo.
As of June 30, 2023, the consolidated order book of the group stands at Rs 412,648 crore.
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Not content with these achievements alone, L&T is reinforcing its commitment to green energy solutions. With an investment of up to Rs 506 crore, L&T Energy Green Tech Limited, an existing subsidiary, is set to grow further.
Simultaneously, the company is venturing into the green energy sector by incorporating a Joint Venture Company with an initial capital of Rs 1 crore.
To strengthen its position in the offshore segment, L&T is acquiring Sapura Nautical Power Pte Limited’s entire shareholding in L&T Sapura Offshore Private Limited, resulting in L&TSOPL becoming a wholly owned subsidiary. These initiatives mark a significant stride towards a sustainable and greener future.
Larsen & Toubro Ltd is a multinational conglomerate providing EPC solutions in key sectors like Infrastructure, Hydrocarbon, Power, Process Industries, Defence, IT, and Financial Services globally.
The stock has witnessed significant buying activity in the last 3 years as it has surged more than 192 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.