L&T subsidiary bags order worth up to ₹2,500 crore; stock rises 3% this week

Its construction equipment (CE) business unit has received long-term after-sales support orders from major coal and cement producers in India towards the supply of Komatsu mining equipment. These orders reaffirm the safe design and reliability of Komatsu machinery, as well as the trust customers place in L&T’s robust after-sales service capabilities.

Renowned for its high-quality service support, CE is known for extending the operational life of large Komatsu equipment. Leveraging this strength, it has also secured extensions of several maintenance contracts.

Further, the Rubber Processing Machinery (RPM) business unit of CE & IPDD has won multiple orders from leading tyre manufacturers in India. The scope includes the design and manufacture of tyre curing presses and tyre building machines, catering to segments ranging from two-wheelers and passenger cars to trucks and buses.

Apart from this, L&T Valves has secured multiple orders for polyvinyl chloride (PVC) and chlorinated polyvinyl chloride (CPVC) projects from major domestic companies. It has also been awarded some contracts by leading EPC companies in Saudi Arabia.

“These orders underscore L&T's strong engineering capabilities and its reputation as a trusted partner to both Indian and international clients," L&T said in a regulatory statement.

This was the fourth order win for the infrastructure major this week.

On September 15, the company’s transportation infrastructure business vertical bagged a “large” order to construct 156 Route Km (RKM) of high-speed ballastless track for the Mumbai-Ahmedabad high-speed rail (MAHSR) corridor from the National High Speed Rail Corporation Ltd (NHSRCL). According to L&T’s classification, a large order falls in the ₹2,500-5,000 crore range.

The project will involve the design, supply, construction, testing, and commissioning of track works on a design-build lump sum price basis between Bandra-Kurla Complex in Mumbai and Zaroli village in Gujarat.

On September 16, the infrastructure major’s Heavy Civil Infrastructure (HCI) business vertical secured a large order from Nuclear Power Corporation of India Ltd (NPCIL).

The order for the 2X1000 MWe Kudankulam Nuclear Power Project (KKNPP – Units 5 & 6) in Tamil Nadu is valued at approximately ₹2,500–₹5,000 crore.

L&T classifies contracts above ₹2,500-₹5,000 crore as 'large' orders.

Again, on September 17, the Power Transmission & Distribution (PT&D) business vertical of L&T won grid infrastructure orders in India and abroad. The orders include Distribution SCADA and Dynamic Reactive Power Compensation devices and are worth falling in the ₹2,500-5,000 crore range.

On Friday, shares of L&T were trading at ₹3,680 apiece, falling 0.16%. The stock had touched an intraday high of ₹3,705 and a low of ₹3,674.

Over a week’s time, L&T shares have gained 3%, while for a month’s time, they have surged 2%. The stock has zoomed nearly 11% in 6 months.