L&T Shares In Focus After Company Secures Order Worth Over Rs 2,500 Crore

Shares of Larsen & Toubro (L&T) traded flat on Monday at Rs 2902.50 per share at 11:54 am IST after the company announced that it has secured a new order in the range of Rs 2,500 crore to Rs 5,000 crore.

In an exchange filing on October 30, 2023, the company said, "The Power Transmission & Distribution business of L&T Construction has secured key orders in India and overseas, in the current quarter. These orders involve an estimated worth in the range of Rs 2,500 crore to Rs 5,000 crore. "

The details of the order as disclosed by the company include:

In Chhattisgarh, the business has received an order for establishing 400kV & 220kV transmission lines to help relieve the congestion in the state's electricity transmission grid.

In Saudi Arabia, an order for the turnkey construction of a 380kV Substation with associated overhead transmission lines has been won.

Another order has been bagged in the State of Kuwait to build 5 Substations to provide reliable
and efficient power supply to an upcoming residential city.

Additional orders have been won in ongoing substation orders in Qatar.

"In a significant breakthrough, the business has bagged an order in Malaysia, in a consortium, to establish a 275kV Underground Cable system to double the power transmission capacity in the existing network," said the company.

L&T classifies those orders falling in the range of Rs 2,500 crore and Rs 5,000 crore in value as "large" orders.
The L&T board is scheduled to meet on Tuesday to consider and approve the unaudited consolidated and standalone financial results of the Company for the quarter ended 30 September 2023.

In the last one year, L&T shares have gained almost 47%, while the stock's year-to-date (YTD) performance is up 38.88%.