Larsen & Toubro Construction’s Power Transmission & Distribution business has recently secured significant orders in the Middle East region. In the United Arab Emirates (UAE), the company received an order for a 400/132kV Substation. This involves the entire process from engineering and supply to construction, installation, testing, and commissioning. Additionally, the scope includes providing a Transformer, Reactor, and Substation Control and Monitoring Systems (SCMS).
Simultaneously, in Kuwait, Larsen & Toubro Construction won an order for establishing 400kV Overhead Transmission Lines, along with associated 400kV Underground Cable interconnections. “The scope also includes associated Transformer, Reactor and Substation Control and Monitoring Systems (SCMS).In Kuwait, the business has won an order to establish 400kV Overhead Transmission Lines along with associated 400kV Underground Cable interconnections. This transmission segment of more than 100 km route length will help evacuate and generate power,” the company said in the filing.
Despite these positive developments, the company’s stocks experienced a 0.36% decline, trading at ₹3531.00 per share on December 28th. This downtrend might be attributed to concerns about the company’s core business margin, leading to a 1% lower closing in the stock on a previous trading day.
It’s worth noting that in August of the same year, Larsen & Toubro had a buyback at ₹3,000, contributing to the positive momentum in its stock. Abhishek Jain, Head of Research at Arihant Capital, shared his views on the company’s fundamentals, emphasizing that the strengthened infrastructure business played a significant role in revenue growth. While the last quarter showed revenue weakness, the buyback further boosted investor confidence.
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Larsen & Toubro