Multibagger stock: This infrastructure giant bags a new order for its power transmission and distribution business!
The stock has returned more than 15 per cent in the last 6 months.
On March 31, 2023, Larsen & Toubro Limited informed in the exchange filing that the company’s power transmission & distribution business has bagged a significant order ranging between Rs 1,000 – 2,500 crore.
As the country’s power generation evolves, Large Renewable Energy (RE) zones are being developed that house several solar and wind projects from various developers in contiguous land parcels. One such RE zone, the Khavda RE park being developed in Gujarat’s Kutch region, will be one of the largest of its kind in the world. The PT&D Business has secured orders to establish 765kV and 400kV gas-insulated substations, to serve as pooling substations, in the Khavda RE zone.
The business has won another order to establish 765kV gas-insulated and air-insulated substation bays at the pooling and remote end substations in the Kurnool district of Andhra Pradesh.
Further, the PT&D Business has also bagged orders to develop distribution infrastructure in two circles of Rajasthan’s prominent discom.
Larsen & Toubro (L&T) is a major technology, engineering, construction, manufacturing and financial services conglomerate, with global operations.
Today, the stock opened at Rs 2151.15 with a high and low of Rs 2170 and Rs 2151.15. Currently, the stock is trading at Rs 2159.95, up by 0.60 per cent. The stock has delivered multibagger returns of more than 170 per cent in the last three years.