L&T Bags Mega Order To Build Advanced Grid Systems In Middle East, Shares Up 2.67%

Large cap construction sector company Larsen & Toubro Ltd today informed about its latest mega order win to build advanced grid systems in Middle East. Larsen & Toubro Ltd share price surged 2.67% in last 1-week and rose 29.90% in last 1-year. Last trading price of Larsen & Toubro shares on BSE is Rs 3791.50 apiece. The company has a market capitalisation of Rs 5,21,329.32 crore. Check more details below:

Larsen & Toubro Win New Order: As per the exchange filing of Larsen & Toubro dated September 24, 2024, "the Power Transmission & Distribution (PT&D) vertical of Larsen & Toubro has won new orders in the Middle East for expanding and strengthening the electricity grids at high voltage levels.

The different operating regions in Saudi Arabia's national electricity network are being interconnected through High Voltage Direct Current links that enable exchange of power between regions and enhanced system resilience. L&T has secured orders to establish ±500kV HVDC Transmission Links associated with these interconnections. L&T has also won orders for three more packages involving two 380kV overhead transmission lines and a bulk supply 380kV Gas Insulated Substation. These elements contribute significantly to the renewable generation interconnection and fortification of the grid.

In Abu Dhabi, L&T has received an order to build two major 400kV Gas Insulated Substations. In addition to civil works, the scope also involves Series Current Limiting Reactors, Auto Transformers, related control, protection, substation monitoring & alarm systems including fault and power quality monitoring, telecommunication systems and integration with the Load Dispatch Centre.

Commenting on the development Mr T. Madhava Das, Whole-Time Director & Senior Executive Vice President (Utilities) - Larsen & Toubro said: "The fortification and modernization of transmission systems is the foremost step in establishing a secure, resilient grid capable of handling variable renewable generation in an evolving energy market."

Larsen & Toubro Share Performance: The 52-week high price of L&T share on BSE is Rs 3,948.60 per share (as on 03/06/2024) and 52-week low price is Rs 2856.85 per share (as on 30/10/2023), respectively. L&T shares gained 7% in last 3-months, surged 7.64% year-to-date, rose 104% in last 2-years, and rallied 114% in last 3-years. In last 5-years, L&T shares soared 155%.

Larsen & Toubro Dividend: According to the Exchange filing of L&T issued as on May 8, 2024, "Board of Directors has recommended a Final Dividend of Rs.28/- per share of the face value Rs. 2/- each (in addition to the special dividend of Rs. 6 per share paid in August 2023) for the financial year ended March 31, 2024 (previous year final dividend Rs. 24/- per share). The Company will arrange to pay the proposed Final Dividend after approval of the shareholders in the ensuing Annual General Meeting." The company set June 20 as the record date for final dividend.

About: Larsen & Toubro is a USD 27 billion Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing, and Services, operating across multiple geographies. A strong, customer-focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for over eight decades.