L&T shares climbed nearly 1% to a fresh 52-week high of ₹4,172.90 after the company announced a major order win from SAIL.
The order, secured by L&T’s minerals and metals business, falls in the ₹5,000–₹10,000 crore range, which it classifies as a “major” contract.
L&T said its decades-long partnership with SAIL has delivered multiple steel projects and continues to support sustainable growth in India’s steel sector.
L&T Shares Hit 52-week High after Bagging Major Order from SAIL
It won some "major" orders in its minerals and metals (M&M) vertical from SAIL and a few other customers. L&T calls any order worth between ₹5,000 crore and ₹10,000 crore as “major”
Larsen & Toubro Moneycontrol
Summary
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Larsen & Toubro (L&T) shares rose nearly 1% to hit a 52-week high of ₹4,172.90 during the second-half of the trade on Friday, January 2. The trigger of this surge is the "major" order that the company secured from Steel Authority of India (SAIL).
L&T, in a filing said that it won some "major" orders in its minerals and metals (M&M) vertical from Steel Authority of India Limited (SAIL) and a few other customers. L&T calls any order worth between ₹5,000 crore and ₹10,000 crore as “major”.
The company said that it has been working together with SAIL for many decades and both of them have completed several steel and metal projects across the country. According to L&T, this long partnership is helping strengthen India’s steel industry by adding new capacity, using better technology and focusing on sustainable growth.
SAIL is currently upgrading and expanding its IISCO Steel Plant in Burnpur, West Bengal. Under this plan, the plant’s crude steel production capacity will increase from 2.5 million tonnes per year to 6.5 million tonnes per year.
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As part of this expansion, L&T’s minerals and metals business will handle the complete project work. This includes designing the plant, sourcing equipment and installing key units such as coke ovens, by-product plants, and steel-making furnaces, along with systems to move raw materials and finished products. These units will form the core of the new steel complex.
Apart from this, L&T has also received several other orders from different companies across India to supply specialised equipment used for handling bulk materials, such as machines that stack, reclaim and unload raw materials from railway wagons.
Recently, L&T won three large orders worth about ₹15,000 crore in just four days, including one from Bharat Petroleum Corporation Limited (BPCL). As of the end of the September quarter, L&T’s total order book stood at ₹6.67 lakh crore. A strong order book means the company has clear visibility on future revenues and reflects strong demand for its services.
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