Rs 4 lakh crore order book: This civil construction receives order worth approx. Rs 2,500 crore from MNC; hits 52-week high!
The stock is up by 65 per cent in 1 year and gave multibagger returns of over 160 per cent in the last 3 years.
The Buildings & Factories Fast Business of Larsen & Toubro (L&T), Construction has recently secured an EPC order in Mumbai for an Office Space Development using Composite Steel Construction Technology. The order is received from a Multinational Company for the Construction of Commercial Office Space in Mumbai with an approximate built-up area of 14.85 lakh sq. ft.
The project scope involves Engineering, Procurement & Construction including Civil Works, Composite Steel, Façade, MEP & External Development Activities to construct 6B+G+12 Floors. The project is scheduled to be completed in 2026. This is a testament to the expertise of the business vertical in the fast-track execution of steel structures with Composite Steel Technology. The order is worth approx. Rs 2,500 crore.
On Thursday, the shares of Larsen and Toubro Ltd zoomed 0.76 per cent to Rs 2,489.25 per share with an intraday high of Rs 2,499.90 and an intraday low of Rs 2,464.35. The stock also traded at a new 52-week high of Rs 2,499.90 per share.
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Recently, Larsen & Toubro and DRDO signed a contract for the realisation of two Air Independent Propulsion (AIP) System Modules for Kalvari Class of Submarines of the Indian Navy.
Also, L&T expanded its hi-tech manufacturing capability, inaugurating a new state-of-the-art, advanced Heavy Wall Pressure Vessel facility in Saudi Arabia, as a part of the IKTVA initiative of Aramco and Saudi Vision 2030.
Larsen & Toubro Ltd is a leading Indian multinational company mainly engaged in EPC projects, Hi-Tech manufacturing and services. The company recorded the highest order book of Rs 4 lakh crore and order inflows for FY23 were over 2 lakh crore (19 per cent YoY growth).
The stock is up by 65 per cent in 1 year and gave multibagger returns of over 160 per cent in the last 3 years. Investors must keep this stock on their watch list.