Share prices of this largecap stock in the infrastructure developers & operators sector hit a new 52-week high at Rs. 3,614.45 on January 17, while its previous close of Rs. 3,573.5.
With a market cap of Rs. 4,89,387 crore, Larsen & Toubro Ltd. has given over 44 percent of returns in the past six months and nearly 61 percent in the last one year. So far, the company has given 1.28 percent of returns in 2024.
L&T gained nearly 1 percent intraday on Wednesday, after the company’s Building & Factories (B&F) Business secured orders in India and Oman.
The residential business of B&F has secured a significant repeat order in Navi Mumbai from the Government Planning & Development Authority, Maharashtra to construct EWS housing, 14 towers and related infrastructure works.
The scope of works includes the design and construction of civil structures in all aspects including finishes, MEP and related external development works, and the project is to be executed within 42 months.
Additionally, the business through the L&T Oman entity has been awarded the contract for a Mixed-Use Development project in Muscat by a reputed client.
which involves the construction of a 3-star hotel featuring 101 serviced apartments, 80-key hotel rooms, and a 23-key residential apartment and office block with a common basement, associated service buildings, external works, and services, with hard and soft landscaping.
Before this contract, the Railways Strategic Business Group of L&T Construction secured a mega contract on January 16, from a Japanese agency to construct a 508 km route of High-Speed Electrification System Works for the Mumbai-Ahmedabad High-Speed Rail (MAHSR) Project, popularly referred to as the Bullet Train Project.
Financially, the company has been maintaining a healthy dividend payout of 37.2 percent but has delivered a poor sales growth of 8.9 percent over the last five years.
The company’s revenue from operations on a year-on-year basis grew 19.32 percent from Rs. 47,882 crore in June 2023 quarter to Rs. 51,024 crore in September 2023 quarter, accompanied by a net profit of Rs. 3,096 in June 2023 quarter to Rs. 3,846 in September 2023 quarter.
As of December 2023, FIIs hold 25.5 percent of the shares, whereas DIIs hold 37.34 percent of the shares in the company, aggregating to 62.84 percent of the institutional holdings.
L&T is a $23 billion Indian multinational conglomerate engaged in engineering, procurement and construction (EPC) projects, hi-tech manufacturing and services, operating in over 50 countries worldwide.
According to the project classification of L&T, their Significant orders range from Rs. 1,000 crore to Rs. 2,5000 crore, Large orders from Rs. 2,500 crore to 5,000 crore, Major orders from Rs. 5,000 crore to 10,000 crore, Mega orders from Rs. 10,000 crore to 15,000 crore and Ultra-Mega orders above Rs. 15,000 crore.
Written by Shivani Singh
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