On Tuesday this large-cap stock jumps 0.7% after receiving a large order of up to 5,000 Cr. The stock has delivered 39% returns in six months and 66% returns in one year. Currently, shares were trading 1% below the 52-week high and above the both 50-day and 200-day
moving averages
Larsen and Toubro Ltd
The company has a market capitalisation of Rs. 4,27,457 Cr making it a large-cap company. On Tuesday at 12:25 p.m., shares were trading 0.2% up at Rs. 3,030.15 on NSE.
According to the company filing, the transportation Infrastructure business vertical of L&T Construction has received an order from the Municipal Corporation of Greater Mumbai (MCGM) for the construction of a 4.5 Km long bridge construction Dahisar and Bhayandar. The project will significantly reduce the travel time between Dahisar and Bhayandar which currently takes more than 45 minutes.
L&T does not disclose the particular order value. However, it classifies the order ranging from Rs. 2,500 Cr to 5,000 Cr as large orders.
The 4.5 Km link will have two separate carriageways and a multi-level interchange and Dahisar and Bhayander for seamless entry and exit. The project will also have two large navigational spans along with the creek.
As per the company filing, total revenues grew by 34% from Rs. 36,547.92 Cr in Q1 FY23 to Rs. 49,027.93 Cr in Q1 FY24 and for the same period, net profits increased by 35.8% from Rs. 2,293.01 Cr to Rs. 3,116.12 Cr.
As per the latest shareholding data, DIIs hold 38.30%, FIIs hold 25.24% and the public hold a 36.46% stake in the company.
Larsen and Toubro Ltd. is involved in engineering, construction, manufacturing, technology, information technology, and financial services. It operates in more than 50 countries worldwide.
Written by Sheshadri N
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