L&T share price: Construction engineering conglomerate Larsen and Toubro (L&T) share price rose as much as 1.98 per cent to hit an intraday high of Rs 3,517.50 per share.
The rise in L&T share price followed the company’s announcement of a ‘significant’ order win, along with growing anticipation surrounding its upcoming Q3 results.
L&T said that its Minerals & Metals (M&M) vertical has secured a ‘significant’ order for setting up freight handling facilities in the Gulf Cooperation Council (GCC) region. According to L&T, a ‘significant’ order ranges from Rs 1,000 to 2,500 crore.
“This is a repeat order from a leading railway company in the GCC, which has ambitious plans for capacity expansion in multiple phases,” L&T said in a statement.
Under the terms of the order, the company will be responsible for engineering, procurement, construction & commissioning (EPCC) of freight handling facilities with advanced automation and control at two locations, including an add-on package.
Also Read
“With this prestigious project, M&M further solidifies its reputation as a leader in freight handling facility projects. The repeat order from GCC’s largest railway company highlights M&M's proven capabilities in delivering EPC projects matching international standards in quality, safety, and on-time completion,” said D K Sen, executive committee member and advisor to the CMD at L&T.
L&T’s M&M vertical offers end-to-end solutions in the EPC domain across sectors such as mining, minerals processing, industrial products and material handling. Its product business provides cost-effective end-to-end solutions for industries such as mining, cement, steel, fertilisers and ports.
L&T Q3 preview
Engineering, construction, and manufacturing major Larsen & Toubro (L&T) is scheduled to report a strong set of numbers for the December quarter on the back of robust order inflows.It will announce its results today, January 30, 2025.
L&T is likely to report Q3 FY25 net sales at Rs 64,851.76 crore, climbing 17.64 per cent year-on-year (Y-o-Y) from Rs 55,127.8 crore in the year-ago quarter, and rising 5.4 per cent quarter-on-quarter from Rs 61,554.6 crore in the previous quarter, according to an average of estimates from three brokerage firms. READ MORE
About L&T
Larsen & Toubro is a $27 billion Indian multinational enterprise engaged in EPC Projects, Hi-Tech Manufacturing, and Services, operating across multiple geographies.
At 11:26 AM, L&T share price was trading 1.05 per cent higher at Rs 3,485.40. In comparison, BSE Sensex was trading 0.15 per cent higher at 76,645.72 levels.