Rs 4,909 Billion Order Book: LIC-Backed Civil Construction Company Bags Approx. Rs 2,500 Crore Order For Agra Metro Network
The stock is up 25.4 per cent from its 52-week low and gave multibagger returns of over 150 per cent in the last 3 years.
The Heavy Civil Infrastructure vertical of Larsen & Toubro Ltd has secured an order from Uttar Pradesh Metro Rail Corporation Ltd (UPMRCL) for the design and construction of Agra Metro Phase 1, Line-2. The stretch will run from Agra Cantonment to Kalindi Vihar. The scope of works involves the design and construction of a vital 15.09 km elevated viaduct, 14 stations and a 2.61 km depot connecting the metro line from Sadar Bazar to PAC Depot. Architectural finishes for the stations, as well as electrical & mechanical works are also in scope. The project, which will mark a key milestone in enhancing urban mobility in Agra, is to be completed within a stringent timeline of 30 months. The order is worth approx. Rs 2,500 crore.
Additionally, a Meeting of the Board of Directors of the company will be held on Wednesday, October 30, 2024, inter-alia, to consider and approve the unaudited consolidated and standalone financial results of the company for the quarter and half year ended September 30, 2024.
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About the Company
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 4.85 lakh crore and has been maintaining a healthy dividend payout of 34.6 per cent. Life Insurance Corporation of India (LIC) owns a 12.31 per cent stake in the company as of September 2024. The company has a robust order book valued at Rs 4,909 billion as of June 30, 2024. The stock is up 25.4 per cent from its 52-week low and gave multibagger returns of over 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.