Larsen & Toubro jumps after its construction arm secures multiple orders

Shares of Larsen & Toubro closed 1.72% higher today.

Larsen & Toubro’s (L&T) construction arm, L&T construction has secured multiple EPC orders in India and overseas for its Power Transmission & Distribution business. The company has received an EPC order to establish a 90MW Floating Solar PV Plant at the Omkareshwar dam reservoir, a large water body without much change in the water level throughout the year, in the Khandwa district of Madhya Pradesh. This water body is emerging as one of the largest floating solar parks in the world.

Further, in western Uttar Pradesh, the company will undertake works for the development of distribution infrastructure under the revamped reforms-linked distribution scheme. The scope of this loss reduction package includes asset mapping using Geospatial Information System (GIS).

In the overseas market, the business has received an order for establishing 400kV & 225kV transmission lines in North Africa. The business has also won an order for building a 132kV substation in the coastal town of Bintulu in Sarawak, Malaysia.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

Today, the stock opened at Rs 2091.05, with a high and low of Rs 2128.35 and Rs 2086.00. The stock closed trading today at Rs 2123.75, up by 1.72%.

In the last six months, the shares of the company have given more than 35% returns and on YTD basis, the stock has given more than 10% returns.

The stock has a 52-week high of Rs 2210.50 and a 52-week low of Rs 1456.80. The company has a ROCE of 11.00% and an ROE of 10.2%, with a market capitalisation of Rs 2,98,464.21 crore.