This construction company wins significant orders for its power transmission & distribution business!
The stock is up by 14.43 per cent in 6 months and gave multibagger returns of 165 per cent in the last 2 years.
Today, the shares of Larsen and Toubro Ltd surged 1.06 per cent to an intraday high of Rs 2,253.50 per share from its previous closing of Rs 2,229.90. At 03:30 pm, shares of the company ended the day in green, up 0.80 per cent to Rs 2,247.80 per share.
The Power Transmission & Distribution (PT&D) Business of Larsen & Toubro (L&T) Construction has recently secured EPC orders in India and overseas. Under the umbrella of the Reforms-based Results-linked Distribution Sector Scheme (RDSS), distribution utilities in the country have taken up various modernization measures to improve operational efficiency and financial sustainability.
The Business has secured orders to develop distribution infrastructure in two discom circles of western Rajasthan. The Business has also bagged a power supply system order for the second phase of Chennai Metro. The scope includes Design, Supply, Installation and Commissioning of Receiving Substations (RSS), Auxiliary Substations (ASS) and SCADA system for the northern sections of Corridors 3 & 5.
Further, in the overseas market, the PT&D Business has won an order to supply, construct, test and commission a 132kV substation in the United Arab Emirates.
Larsen & Toubro Ltd is a leading Indian multinational company mainly engaged in EPC projects, hi-tech manufacturing and services. The company reported amazing results in both quarterly and annual financial statements. In Q3FY23, net sales rose by 17.26 per cent and net profit rose by 21.50 per cent compared to Q3FY22.
The stock is up by 14.43 per cent in 6 months and gave multibagger returns of 165 per cent in the last 2 years. Investors must keep this Large-Cap stock on their watch list.
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*Project Classification
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Classification
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Significant
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Large
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Major
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Mega
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Value in (Rs) (crore)
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1,000 to 2,500
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2,500 to 5,000
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5,000 to 7,000
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more than7,000
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