Rs 5,10,100 crore order book: LIC-backed civil construction company bought 29,79,579 shares of E2E Networks & intends to buy another 6% stake from its promoters

Earlier, the company secured significant orders from NTPC Ltd for the construction of thermal power plants in Madhya Pradesh and Bihar.

Larsen & Toubro Ltd (L&T) has successfully acquired a 15 per cent stake in E2E Networks Limited through a preferential allotment on December 4, 2024. Additionally, L&T is set to acquire an additional 6 per cent stake from the promoter of E2E Networks Limited by May 30, 2025. This strategic investment involves the allotment of 29,79,579 equity shares to L&T for Rs 3,622.25 per share, amounting to a total investment of Rs 1079,27,80,032.75.

Earlier, the company secured significant orders from NTPC Ltd for the construction of thermal power plants in Madhya Pradesh and Bihar. L&T Energy CarbonLite Solutions, a division of L&T, will be responsible for the design, engineering, manufacturing, and installation of various components, including boilers, turbines, and electrostatic precipitators. This project, valued at over Rs 15,000 crore, showcases L&T's expertise in the power sector and its commitment to delivering innovative and sustainable solutions.

About the Company

Larsen & Toubro (L&T) is a massive Indian conglomerate with its fingers in many pies. Their core business is engineering, procurement and construction (EPC) solutions across various sectors like infrastructure, power, hydrocarbon (oil & gas) and defence. They also manufacture custom-designed machinery for these industries and even have a real estate arm. L&T is a major player in IT services through subsidiaries like L&T Infotech and Mindtree and provides financial services like rural and housing finance through L&T Finance Holdings. They even handle development projects involving infrastructure, toll management and power generation.

The company has a market cap of Rs 5 lakh crore and has been maintaining a healthy dividend payout of 34.6 per cent. Life Insurance Corporation of India (LIC) owns a 12.31 per cent stake in the company as of September 2024. The company has a robust order book valued at Rs 5,10,100 crore as of September 30, 2024. The stock is up 20 per cent from its 52-week low and gave multibagger returns of 200 per cent in the last 5 years. Investors must keep this Large-Cap stock. 

Disclaimer: The article is for informational purposes only and not investment advice.