12 Nov 2024

L&T Stock Edges Up After Securing Major LNTP Contracts from NTPC for Thermal Plants

Larsen & Toubro (L&T) shares saw a slight gain, trading at Rs. 3627.80 on the BSE, marking a 0.01% increase from its previous close at Rs. 3627.35. The stock opened at Rs. 3630.00 and fluctuated between a high of Rs. 3649.55 and a low of Rs. 3602.00, with 13,719 shares traded so far.

In recent trading, L&T’s stock, a Group ‘A’ BSE listing with a face value of Rs. 2, has marked a 52-week high of Rs. 3948.60 on June 3, 2024, and a 52-week low of Rs. 3031.25 on November 13, 2023. Over the past week, it hit a high of Rs. 3670.05 and a low of Rs. 3556.35. The company currently holds a market cap of Rs. 4,99,997.50 crore, with institutional and non-institutional investors owning 62.39% and 37.61% of the company, respectively.

The company's energy-focused division, L&T Energy CarbonLite Solutions, received a ‘Limited Notice to Proceed’ (LNTP) from NTPC to develop thermal power plants in Madhya Pradesh and Bihar. The projects include the main plant packages for a 2x800 MW Stage-II thermal power facility in Gadarwara, Madhya Pradesh, and a 3x800 MW Stage-II plant in Nabinagar, Bihar. 

L&T’s role will encompass designing, engineering, manufacturing, supply, erection, and commissioning of key components like boilers, turbines, electrostatic precipitators, and auxiliary systems, alongside all necessary mechanical, electrical, instrumentation, and civil work.

Larsen & Toubro, an Indian multinational, operates across sectors including technology, engineering, construction, manufacturing, and financial services.