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L&T bags order in the range of ₹2,500-5000 crore, shares trading at ₹3,531.80
L&T Construction's Power Transmission & distribution business has received orders for a 400/132kV Substation in the UAE and 400kV Overhead Transmission Lines in Kuwait, helping to generate and evacuate power in the region. The Power Transmission & distribution business of Larsen & Toubro Construction has secured key orders in the Middle East region. In the United Arab Emirates, the business has received an order for the engineering, supply, construction, installation, testing and commissioning of a 400/132kV Substation, as per an exchange filing. The stocks of L&T were trading in red, down 0.36 per cent, at ₹3531.00 a piece, on December 28, at 10:38 am, on BSE. “The scope also includes associated Transformer, Reactor and Substation Control and Monitoring Systems (SCMS).In Kuwait, the business has won an order to establish 400kV Overhead Transmission Lines along with associated 400kV Underground Cable interconnections. This transmission segment of more than 100 km route length will help evacuate and generate power," the company said in the filing. Earlier in November, Mint reported that, even though Larsen and Toubro Ltd’s (L&T) September quarter (Q2FY24) was characterized by healthy revenue growth and a stellar order pipeline. Concerns lingered about its core business margin. The engineering and capital goods company trimmed its Ebitda margin guidance to 8.5-9.0% for FY24 from the earlier projected 9%. This could partly explain why the stock saw some selling pressure on Wednesday, closing about 1% lower. In August this year, while sharing his fundamental views on the company with Mint, Abhishek Jain, Head of Research, Arihant Capital Jain said, “Strengthened infrastructure business contributed to revenue growth, although last quarter showed revenue weakness. L&T's buyback at ₹3,000 further boosted the stock. The rise seems supported by favourable business conditions, but continued growth depends on sustaining orders and execution efficiency. Investors eyeing a year timeframe should monitor order inflow and execution performance closely." Source - Mint
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