Rs 4.5 trillion order book & DIIs increase stake: This multibagger construction stock bags new order of about Rs 2,500 crore!
Shares of the company have gained more than 60 per cent in the last one year.
Larsen & Toubro's Heavy Engineering arm has secured a significant haul of new orders, both domestically and internationally, solidifying its position as a leading player in the industry. In the Middle East, the L&T Heavy Engineering Modification, Revamp, and Upgrade (MRU) business landed a major contract from a key oil and gas customer for a critical debottlenecking project. L&T HE also secured the DCU Revamp Project from a leading domestic refinery and the Coke Drum critical repair project from IOCL Gujarat Refinery, showcasing its technical expertise and reliability.
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On the international front, L&T HE's Process Plant Equipment business secured orders for several critical equipment items, including 2 EO Reactors from a leading global chemical company in Thailand, Cr-Mo-V Reactors for an oil project in Saudi Arabia, a Large Stainless-Steel Column for an NGL project in Australia, and a Heat Exchanger from a major US industry player.
Domestically, L&T HE received orders to manufacture VGO Reactor, Critical CrMo-V Reactor, and proprietary design high-pressure Heat Exchangers for a refinery project. The business also secured an order for a Carbamate Condenser from RCF Mumbai for their Urea Plant. The order received by the company is expected to be worth about Rs 2,500 crore.
Recently, L&T Construction's Railways arm has scored a historic win, bagging a massive contract to build the electrification system for the Mumbai-Ahmedabad Bullet Train project. The project is expected to be worth about Rs 15,000 crore.
Larsen & Toubro (L&T) is a major technology, engineering, construction, manufacturing, and financial services conglomerate, with global operations. The company has an order book of Rs 4.5 trillion. The stock has also delivered multibagger returns of about 160 per cent in the last three years. DIIs have also increased their stake in the company in December 2023.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
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