L&T shares jump 1% higher after announcing mega order win in the Middle East for its Power Transmission & Distribution (PT&D) vertical

Larsen & Toubro (L&T) has won new orders in the Middle East for the Power Transmission & Distribution (PT&D) vertical to expand and strengthen the electricity grids at high voltage levels.

The different operating regions in Saudi Arabia’s national electricity network are interconnected through high-voltage direct current links that enable the exchange of power between regions and enhance system resilience. L&T has secured orders to establish ±500kV HVDC Transmission Links associated with these interconnections.

The company has also won orders for three more packages involving two 380kV overhead transmission lines and a bulk supply of 380kV Gas-Insulated Substations. These elements contribute significantly to the interconnection and fortification of the grid's renewable generation.

In Abu Dhabi, the company has received an order to build two major 400kV Gas-Insulated Substations. In addition to civil works, the scope also involves Series Current-Limiting Reactors, Auto Transformers, related control, protection, substation monitoring and alarm systems, including fault and power quality monitoring, telecommunication systems, and integration with the Load Dispatch Centre. These substations will enhance the power transfer capacity of the electricity grid.

Larsen & Toubro (L&T) is an Indian multinational company that provides technology, engineering, construction, manufacturing, and financial services. Shares of L&T have generated modest returns of up to 8% in 2024 on a YTD basis, and one one year basis, it has given 31% returns from September 24, 2023.