Rs 2,500 crore order: This infrastructure giant bags mega work orders from Saudi Arabia!
The stock has risen over 35 per cent in the last one year.
Larsen & Toubro Limited has informed in the exchange filing that the company’s power transmission & distribution business has recently secured EPC orders in Saudi Arabia and India.
In Saudi Arabia, the company has secured two orders to establish 380kV overhead power transmission lines connecting prominent cities situated on the Red Sea coast. These systems will strengthen projects that involve 400KM of transmission lines to meet the growing demand in these industrial and tourism hubs. The company has also won another order to design, supply, and construct a 380kV substation in the central region of KSA. The substation will be a crucial element to evacuate renewable capacity as part of the Kingdom’s diversification to non-fossil fuel sources in their electricity mix.
Furthermore, in the domestic market, the company continued its winning streak in the Revamped Reforms Based and Results-Linked Distribution Sector (RDSS) Scheme projects with fresh orders from a prominent Gujarat DISCOM.
Larsen & Toubro (L&T) is a major technology, engineering, construction, manufacturing and financial services conglomerate, with global operations. L&T addresses critical needs in key sectors - Hydrocarbon, Infrastructure, Power, Process Industries and Defence - for customers in many countries around the world.
DSIJ offers a product 'Large Rhino' with recommendations for Large-Cap stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the product details pdf here
Today, the stock opened at Rs 2221.10 with a high and low of Rs 2228.00 and Rs 2214.00. The stock previously closed at Rs 2216.55. Currently, the stock is trading at Rs 2216.35, down by 0.20 per cent. It has a 52-week high of Rs 2416.00 and a 52-week low of Rs 1456.80. The stock has delivered multibagger returns of more than 170 per cent in the last three years.