L&T share price jumps over 4% on this business update. Details here

Larsen & Toubro (L&T) share price jumped over 4% on Tuesday after the company announced receipt of a ‘major’ project. L&T shares jumped as much as 4.19% to ₹3,425.00 apiece on the BSE.

The construction and engineering major Larsen & Toubro said that its Minerals & Metals (M&M) business vertical will set up a Pellet Plant and a Direct Reduction of Iron (DRI) Plant for a client in the Middle East & North Africa (MENA) region.

“These pertains to a major order secured earlier from the client – a leading steel producer in MENA and are part of the global initiative towards decarbonisation. The scope of work includes design-build Pellet and DRI plants encompassing engineering, supply, erection and construction works based on globally acclaimed technologies,” L&T said in a regulatory filing on January 4.

According to the company’s project classification, a ‘Major’ order values anywhere ₹5,000 crore to ₹10,000 crore.

“This reflects M&M’s leadership position in successful execution of complex iron & steel plant projects in the MENA region. It further demonstrates the unwavering commitment of M&M in delivering steel plant projects conforming to international standards in quality, safety, and ontime completion,” said D K Sen, Executive Committee Member and Advisor to the CMD, L&T.

L&T’s M&M vertical offers end-to-end solutions in EPC domain across sectors such as mining, minerals processing, industrial products and metallurgical plants.

As of December 31, 2024, L&T's consolidated order book as of the group level stood at ₹564,223 crore, reflecting a robust growth of 19% compared to March 2024. International orders made up 42% of the total, highlighting the group's expanding presence in global markets.

L&T Stock Price Trend

L&T share price has dropped 7% in one month and has remained flat in the period of last one year. However, L&T stock price has delivered 57% returns in two years.

At 12:20 PM, L&T shares were trading 4.11% higher at ₹3,422.40 apiece on the BSE, with a market capitalisation of over ₹4.70 lakh crore.

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