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L&T Shares hit a fresh 52-week high Today!

28 June 20233 mins read by Angel One
Shares of the company had given over 55% return over the past one year
L&T Shares hit a fresh 52-week high Today!
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Yesterday Larsen & Turbo Ltd in their regular filing said that L&T Construction wins new orders for its Power Transmission and Distribution Business in India and abroad. As per L&T’s projects are in the category of significant with the size of Rs 1000 – 2500 crore.   

In the Middle East, the business has won two orders for the upgrade of Electrical Networks in large industrial facilities. The scope of these orders involves establishing Gas Insulated Substations with associated High Voltage Cable Systems. The Power Transformers and Control & Protection systems are the other crucial elements that will be installed as part of the works.  

In India, an order for building a 765kV Transmission Line has been received. The Transmission Line will facilitate the evacuation of Renewable Energy from the Wind and Solar Energy hub being established around Kurnool in Andhra Pradesh.  

The engineering and construction firm said earlier this month that it would build renewable energy infrastructure for the world’s largest green hydrogen facility in Saudi Arabia. The packages given to L&T are about USD 2.779 billion, or roughly Rs 22,900 crore.   

Under these contracts, L&T will engineer, procure, and construct a 2.2 GWac PV Solar Plant, 1.65 GW Wind Generation Balance of Plant and a 400 MWh Battery Energy Storage System under the Power Elements package. It will also construct 3 Nos of 380 kV Switching Stations, 306 KM of 380 kV Overhead lines and UG Cables are required for the Kingdom’s Grid network. The scope also includes the Energy Power Monitoring System (EPMS) for the complete Network.   

In the last trading session, scrip closed at Rs 2387.80. Today it opened at Rs 2393.25 and hit a fresh 52-week high at Rs 2432.95, it had 52-week low at Rs 1524. Currently, it is trading at Rs 2423, up by 1.47%. The company has a market capitalization of around Rs 3,40,500 crore.    

Larsen & Toubro Ltd is a multinational conglomerate which is primarily engaged in providing engineering, procurement and construction (EPC) solutions in key sectors such as Infrastructure, Hydrocarbon, Power, Process Industries and Defence, Information Technology and Financial Services in domestic and international markets. 

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