Larsen & Toubro and Engineers India need to hold above the key levels for further upside.
On Wednesday, the stock ended 18 per cent higher after L&T bought 41.49 million equity shares of L&T Finance Holdings for Rs 348 crore.
The company bagged orders worth Rs 50,359 crore during Q3, down 31% YoY, as the previous year had the benefit of the company securing its biggest ever EPC contract for Mumbai Ahmedabad High Speed Rail
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Larsen & Toubro (L&T) on Monday said its construction arm has bagged a significant order from National High Speed Rail Corporation Ltd (NHSRCL). The major scope of work for the project comprises design and construction of civil and building works for a double-line high speed railway of a length of 8.198 km, L&T said in a statement. "The construction arm of Larsen & Toubro has secured an order from the esteemed National High Speed Rail Corporation Limited (NHSRCL), to design and construct Package No. MAHSR-C-5 of the Mumbai-Ahmedabad High Speed Rail Project, the first high speed rail corridor being implemented in the country," the statement said. The scope of the work also includes the major station of Vadodara, confirmation car base, viaduct and bridges, crossing bridges, architectural and other associated works. The project alignment passes through Vadodara, Gujarat and the project is scheduled to be completed within 49 months. L&T is already executing two other .
L&T Construction's water and effluent treatment business has secured a slew of orders from various prestigious clients. The Department of Water Supply and Sanitation, Punjab, has awarded two EPC (engineering, procurement and construction) orders for the bulk supply of treated water to 10 lakh people in the Fazilka and Ferozepur districts of the state on a design-build-operate-transfer (DBOT) basis, Larsen & Toubro (L&T) said in a filing to the BSE. "The aggregate scope of work comprises design and construction of raw water intake systems, storage & sedimentation tanks, water treatment plants of a total capacity of 114 MLD (million litres per day), clear water reservoirs with pumphouse, supply & laying of transmission pipelines, and associated electromechanical & Instrumentation works," it said. The Department of Water Resources, Government of Odisha, has given a repeat EPC order to execute the Under Ground Pipeline Irrigation System for the Rengali Right ...
Engineering major lost large domestic orders as technical-deficient rivals won tenders
The company's construction arm has secured significant orders (ranging between Rs 1,000 to Rs 2,500 crore) for its businesses in India.
L&T's order inflow is expected to be good in October-March period (H2FY22) given the expected high activity in tendering in and awarding
The growth is mainly driven by higher profits in the IT&TS portfolio and improved margins from the projects & manufacturing portfolio.
Shares of IRB Infrastructure Developers jumped over 5 per cent, GMR Infrastructure added 2 per cent and Larsen & Toubro Ltd (LT) recovered following five days of bear hammering
L&T Construction, the construction arm of L&T, has won a slew of orders in India and abroad for its various businesses
Recovery in key international markets, continuous focus on infrastructure by the government, and rebound in crude oil prices augur well for L&T, according to analysts
Ability to hold on to margins amid higher raw-material prices and restored salaries/wage cuts through cost control, order pipeline, and commentary on FY22 guidance among key monitorables
Revenue growth trajectory however is expected to remain robust
During Q3FY21, L&T's standalone adjusted net profit came in at Rs 1,705 crore against Rs 1,261 crore in Q3FY20
Brokerage firm Jefferies maintains 'buy' rating on the stock with a SOTP price target of Rs 1,280 per share
he urged the government to introduce much-needed reforms in land acquisition, competency & skill building to achieve desired outcomes under 'Aatmanirbhar Bharat'