With a market capitalization of Rs 3,32,607 crores, the shares of Larsen & Toubro Limited (L&T) traded flat today closing at Rs 2,366.35. Moreover, the scrip hit its new 52-week high mark at Rs 2,419.90. Year-to-date, the stock has gained over 13 percent ranging from Rs 2,089.45 to the current price levels.
According to reports, the ‘National High Speed Rail Corporation’, on June 16th, had opened the financial bids for a major contract pertaining to the Mumbai-Ahmedabad High Speed Bullet Train Project in New Delhi.
With regards to the above, L&T has emerged as the lowest bidder in order to construct the 135.45 km stretch of the Rail project at Rs 15,697 crores. The order involves design as well as the construction of civil and building works comprising the testing and commissioning of design involving bridges, viaducts, stations, etc.
The latest consolidated numbers reported by the company exhibit an increase in operating revenues from Rs 1,56,521 crores during FY21-22 to Rs 1,83,340 crores in FY22-23. Moreover, the net profit figures, keeping the timeframe the same, have also increased from Rs 10,291 crores to Rs 12,624 crores.
The profitability ratios of the company have shown some improvements with the return on equity (ROE) increasing from 10.52 percent during FY21-22 to 11.72 percent in FY22-23. Likewise, the return on capital employed (ROCE), during the same time horizon, rose from 10.91 percent to 11.99 percent.
Larsen & Toubro Limited is a technology, engineering, manufacturing, and financial services conglomerate. It enters contracts to construct various facilities, develop solutions for offshore and onshore hydrocarbon projects, serve power plants, build ships, and perform other engineering projects.
Written by Amit Madnani
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
