L&T Share Price Tips Higher After Securing 'Large' Orders For Power Transmission Vertical
Larsen & Toubro did not disclose the exact value of the contracts, but confirmed they fall within the Rs 2,500-5,000 crore range.
Larsen & Toubro Ltd.'s share price surged after the company secured significant new orders for its Power Transmission & Distribution vertical, both in India and the Middle East. The company did not disclose the exact value of the contracts, but confirmed they fall within the Rs 2,500-5,000 crore range.
In India, L&T has been awarded a contract to implement an Advanced Distribution Management System in West Bengal. This technology aims to make the region's power distribution network smarter by integrating Outage Management and Distribution Management System functionalities. The system will provide real-time monitoring of medium and low-voltage networks, improving fault isolation and enabling faster restoration of power, thus enhancing the overall reliability of the network.
Meanwhile, L&T's PT&D business has also secured key projects in the Middle East. In Saudi Arabia, the company won an order for a 380kV substation, which will play a critical role in facilitating the evacuation of solar-generated power. In Kuwait, L&T has been awarded a contract to build a 400kV substation as part of a major city project aimed at bolstering the country's power transmission capacity.
Additionally, L&T's PT&D division has won contracts for establishing a series of Extra High Voltage substations in Dubai, including a significant 400/132kV substation.
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Larsen & Toubro Share Price Today
Share price of L&T rose as much as 0.91% to Rs 3,635.90 apiece. They pared gains to trade 0.24% higher at Rs 3,612 apiece, as of 10:56 a.m., compared to a 0.44% advance in the NSE Nifty 50.
The stock has risen 3.17% in the last 12 months. Total traded volume so far in the day stood at 0.26 times its 30-day average. The relative strength index was at 42.
Out of 35 analysts tracking the company, 31 maintain a 'buy' rating, two recommend a 'hold' and two suggest 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 12.9%.
