L&T Wins Rs 1000-2500 Crore Order For Its Power Transmission Business Arm In India, Abroad

Larsen & Toubro Ltd. (L&T) on Monday, June 26, 2023, in a press release announced that the company bagged a 'significant' order for its power transmission and distribution business in India and abroad.

The company classified the 'Significant' category as projects within the size of Rs 1,000-2,500 crore.

L&T is a large cap construction sector company of L&T group. It has a market capitalisation of Rs 3,34,11,869.91 crore.

L&T Construction Wins (Significant*) Orders for its Power Transmission & Distribution Business

The Power Transmission & Distribution Business of Larsen & Toubro has secured new orders in India and abroad.

In Middle East, the Business has won two orders for the upgrade of Electrical Networks in large industrial facilities. The scope of these orders involves establishing Gas Insulated Substations with associated High Voltage Cable Systems. The Power Transformers and Control & Protection systems are the other crucial elements that will be installed as part of the works.

Such complex projects require proven engineering and project management capabilities to meet the stringent safety, quality and schedule requirements. Secured on the back of demonstrated abilities to manage interface and shutdown related challenges, these orders reflect the customer trust in L&T.

In India, an order for building a 765kV Transmission Line has been received. The Transmission Line will facilitate evacuation of Renewable Energy from the Wind and Solar Energy hub being established around Kurnool in Andhra Pradesh.

Background

Larsen & Toubro is a USD 23 billion Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services. It operates in over 50 countries worldwide. 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 eight decades.

* Project Classification

Classification	Significant	Large	Major	Mega
Value in ₹ Cr	1000 to 2500	2500 to 5000	5000 to 7000	>7000

Stock Movement

Post the announcement, the stock of LT falls 0.80%, trading at Rs. 2369 apiece. The stock hit intra-day high at Rs 2403 apiece and intra-day low at Rs 2367.70 apiece on Monday. On BSE, it hit the 52-week low on Jun 24, 2022, at Rs. 1490 apiece and 52 week high on Jun 23, 2023, at Rs. 2429.30 apiece, respectively.

The stock surged 0.29% in 1 week. It surged 6.85% in 1 month and 9.56% in 3 months, respectively. It gave 58.49% positive return in 1 year, and 55.62% in 2 years, respectively. It gave the highest 46.23% in 3 years. Whereas, it gave 86.69% positive return in 5 years.