Larsen & Toubro Bags Major Power Transmission Orders In Andhra Pradesh, Middle East
Recently, the company had also received a 'large' order for the construction of government structures in New Delhi and Andhra Pradesh.
Construction major Larsen & Toubro Ltd. on Tuesday announced securing 'major' orders for their power transmission and distribution verticals.
In India, the company has won an order to build "765kV and 400kV transmission line jobs pertaining to the integration of a Renewable Energy Zone in Andhra Pradesh", while in the Middle East, the business has received orders to execute a "set of 220kV and 132kV Gas Insulated Substations on turnkey basis," as per the press release.
"The new orders mark a key milestone for PT&D in its pursuit of delivering future-ready grid infrastructure to help realise the energy transition and sustainable energy goals of its valued customers," added the release.
The transaction amount is not specified, as L&T issues a range as per the classification of the order. Orders classified 'major' are in the bracket of Rs 5,000 to Rs 10,000, while 'large' orders are within 2,500 to Rs 5,000 crore.
'Significant' orders signal an amount between Rs 1,000 to Rs 2,500 crore, while 'mega' and 'ultra-mega' orders are in the range of Rs 10,000 to Rs 15,000 crore and over Rs 15,000 crore, respectively.
Recently, the company had also received a 'large' order for the construction of government structures in New Delhi and Andhra Pradesh.
Larsen & Toubro Share Price Today
The scrip rose as much as 0.68% to Rs 3,704 apiece. It pared gains to trade 0.04% higher at Rs 3,680.40 apiece, as of 11:05 a.m. This compares to a 0.14% advance in the NSE Nifty 50 Index.
It has risen 2.01% on a year-to-date basis, and 3.86% in the last 12 months. The relative strength index was at 45.86.
Out of 35 analysts tracking the company, 29 maintain a 'buy' rating, four recommend a 'hold,' and two suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 6.7%.
