Rs 4,75,800 crore order book: LIC-backed multibagger civil construction company bags offshore order between Rs 2,500 to Rs 5,000 crore from ONGC

The stock is up by 59 per cent from its 52-week low and gave multibagger returns of 150 per cent in the last 3 years.

Today, the shares of Larsen and Toubro Ltd surged 2.41 per cent to Rs 3,716.80 per share from its previous closing of Rs 3,629.35. The stock’s 52-week high is Rs 3,948.60 and its 52-week low is Rs 2,340.

The Hydrocarbon vertical (L&T Energy) of Larsen & Toubro Ltd (L&T) has secured an order from the Oil & Natural Gas Corporation (ONGC) for Daman Upside Development Project-Wellhead Platforms & Pipelines (DUDP-WP), off India’s west coast. The scope of work includes engineering, procurement, construction, installation, and commissioning of four Wellhead Platforms, a 140-km Pipeline and associated Topside modifications at the Tapti Daman block at a Western offshore location. The order is between Rs 2,500 to Rs 5,000 crore.

Earlier, Larsen & Toubro Construction's Buildings & Factories business unit secured multiple contracts, including a significant order from the Institute of Neurosciences Kolkata to design and build a medical college and hospital campus in Rajarhat, Kolkata. This 605-bed hospital complex will also include a medical college with a 150-student intake capacity, along with hostels for students, staff, and residents. The total project area will span 1.21 million square feet and will be constructed over five years in two phases. The scope of work encompasses civil structures, building finishes, mechanical, electrical, and plumbing (MEP) systems, paramedical facilities, and external development including landscaping. L&T also received additional orders from existing projects, bringing the total value of the contracts to approximately Rs 2,500 crore.

Also Read: 20:119 Rights Issue & 1:1 Bonus Share: LIC-backed multibagger penny stock at Rs 3.92 – Company bags orders worth Rs 210 million for its Agro and Infra Business Segments

Larsen & Toubro (L&T) is a massive Indian conglomerate with its fingers in many pies. Their core business is engineering, procurement and construction (EPC) solutions across various sectors like infrastructure, power, hydrocarbon (oil & gas) and defence. They also manufacture custom-designed machinery for these industries and even have a real estate arm. L&T is a major player in IT services through subsidiaries like L&T Infotech and Mindtree and provides financial services like rural and housing finance through L&T Finance Holdings. They even handle development projects involving infrastructure, toll management and power generation.

The company has a market cap of Rs 5 lakh crore and has been maintaining a healthy dividend payout of 34.6 per cent. Life Insurance Corporation of India (LIC) owns an 11.19 per cent stake in the company. The company has a robust order book valued at Rs 4,75,800 crore as of March 31, 2024. The stock is up by 59 per cent from its 52-week low and gave multibagger returns of 150 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.