Shares of this large-cap company jumped around 2 percent in Thursday’s trading session after receiving multiple orders up to Rs. 2,500 crores. The shares have delivered around 75 percent returns to its shareholders in one year.
With a market capitalization of Rs. 5,16,448 crores, the shares of Larsen & Toubro Ltd started Thursday’s trading session on a flatter note at Rs. 3,706.55. During the trading session, the shares hit a high of Rs. 3,762.50, gaining around 2 percent, also recorded as the company’s fresh 52-week high and are currently trading at Rs. 3,754 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that the L&T GeoStructure, a wholly-owned subsidiary had secured multiple orders from across India. While L&T did not disclose the exact value of the order win, it counts an order as ‘Significant’ when it is valued order range is between Rs. 1,000 crores to 2,500 crores.
The business has secured an order from the Paradip Port Authority (PPA), to construct a South Breakwater Extension, Groynes and a Breakwater Toe Protection Wall at Paradip Port, Odisha.
The major scope of work includes an extension of the existing south breakwater by 500 meters, construction of 10 Groynes on the northside of the North Breakwater for a cumulative length of 1650 meters, breakwater toe protection works using steel/sheet piles to deepen the draft of the approach channel.
Furthermore, L&T GeoStructure also secured an order from the Hindustan Shipyard Limited (HSL), to augment the Slipway-4, Visakhapatnam, Andhra Pradesh. The major scope of work includes upgrading the slipway, constructing the crane track and allied services such as gas utilities, firefighting system and supply and erecting a 300 MT Goliath crane.
Additionally, the business secured an order from a reputed real-estate developer to construct substructure works in Chennai. The major scope of the work includes the construction of a retention system involving anchoring works and deep excavation.
Earlier, on 27 March 2024, the Buildings and Factories vertical of L&T had won multiple orders in the domestic and international markets of up to Rs. 5,000 crores.
Coming onto the company’s financial statement, the revenue increased by 8 percent from Rs. 51,024 crores during the September quarter to Rs. 55,128 crores in the December quarter. On a contrasting note, the net profits decreased by 7 percent from Rs. 3,846 crores to Rs. 3,593 crores during the same timeframe.
As of December 2023, the company has an order book of Rs. 4,698 billion. In which, 68 percent of the orders were received from the Infrastructure sector and the remaining 32 percent of the orders were received from Energy, Hi-Tech Manufacturing and others.
Written By Vaibhav Patil
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.