L&T - Secures Large Contract - Nov 25, 2020 - Angel Broking

Mr. Keshav Lahoti - Associate Equity Analyst, Angel Broking Ltd

"L&T Construction, the construction arm of L&T, has secured a large contract (order value in the range of Rs.2,500 - Rs.5,000 crore) to construct India's longest road bridge across river Brahmaputra connecting Dhubri in Assam to Phulbari in Meghalaya. "This is an extremely challenging project, and we thank our client, National Highways & Infrastructure Development Corporation Ltd. for reposing confidence in our capability to build a such a defining piece of infrastructure," said Mr S V Desai, Whole Time Director and Senior Executive Vice President (Civil Infrastructure), L&T.

Recently, L&T has also won big orders for a high speed rail corridor and supplying mining equipment to Tata Steel. Back to back winning such a new order will increase investor confidence in the company. We believe as the economy is picking up, new orders will flow to the company. Execution has also improved as workers are close to pre covid levels. We are bullish on the company considering that infrastructure activity is picking up, a strong balance sheet and a robust order book."

Shares of LARSEN & TOUBRO LTD. was last trading in BSE at Rs.1115.7 as compared to the previous close of Rs. 1135.35. The total number of shares traded during the day was 151334 in over 8614 trades.

The stock hit an intraday high of Rs. 1146 and intraday low of 1112.6. The net turnover during the day was Rs. 170489671.

Source : Equity Bulls

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