Rs 4,50,700 crore order book: Heavy buying witnessed in this multibagger civil construction stock with zero promoter holdings; hit back-to-back 52-week high!

The stock is up by 58.26 per cent in 1 year and gave multibagger returns of 187.34 per cent in the last 3 years.

Today, the shares of Larsen and Toubro (L&T) made a new 52 week high of Rs 3,409.15, up by 0.52 percent from its previous closing of Rs 3391.60. At the closing bell the shared of the company were trading at Rs 3372, down 0.58 per cent

Recently, Larsen and Toubro, a leading Indian conglomerate, has established a subsidiary, L&T Semiconductor Technologies Limited, to enter the semiconductor industry. This aligns with India's goal of becoming a global semiconductor hub. LTST will focus on chip design and product ownership, leveraging L&T's engineering expertise and capitalizing on the growing semiconductor market. India's semiconductor market is projected to reach USD 80.3 billion by 2028, driven by factors such as increasing electronics demand and government support. L&T's foray into semiconductors demonstrates its commitment to innovation and its vision for India's technological advancement.

Larsen & Toubro's hydrocarbon business (L&T Energy Hydrocarbon – LTEH) has received two large orders from the Middle East. The first is for a new offshore platform worth approximately Rs 15,000 crore. The second is for a gas processing plant worth more than Rs 15,000 crore. These orders are a significant boost for L&T's hydrocarbon business, which is expanding its regional presence in the Middle East.

Larsen & Toubro experienced a remarkable surge in its order inflow and revenue growth during the financial year ending September 30, 2023. The company's order book, valued at a substantial Rs 4,50,700 Crore, underscores its strong position for future business prospects.

L&T's financial performance in Q2FY24 continued its upward trend, with remarkable growth in revenue, operating profit, and PAT. Revenue for the quarter reached Rs 51,024.04 crore, a substantial 19.32per cent increase year-over-year. This growth was echoed in the company's operating profit, which stood at Rs 8,173.45 crore, and its PAT, which reached Rs 3,855.55 crore, marking an impressive 36.76per cent year-over-year surge.

The stock is up by 58.26 per cent in 1 year and gave multibagger returns of 187.34 per cent in the last 3 years. Investors should keep an eye on this Large-Cap stock

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