 "Here's why L&T share gained 4% in trade on February 4; check reasons here")
Shares of construction engineering giant Larsen and Toubro (L&T) were in demand on Tuesday, February 4, 2025, rising as much as 4.38 per cent to hit an intraday high of Rs 3,431.30 per share.
The rise in L&T's share price followed the company’s announcement that its Minerals & Metals (M&M) business vertical would be setting up a Pellet Plant and Direct Reduction of Iron (DRI) Plant for a client in the Middle East and North Africa (MENA) region.
These pertains to a major order secured earlier from the client – a leading steel producer in MENA and are part of the global initiative towards decarbonisation, L&T revealed, in a statement.
As per the agreement, L&T's M&M division will design-build Pellet and DRI plants encompassing engineering, supply, erection and construction works based on globally acclaimed technologies.
L&T’s M&M vertical offers end-to-end solutions in the EPC domain across sectors such as mining, minerals processing, industrial products and metallurgical plants. Its product business provides cost-effective end-to-end solutions for industries such as mining, cement, construction, steel, fertilisers and ports.
“This reflects M&M’s leadership position in successful execution of complex iron & steel plant projects in the MENA region. It further demonstrates the unwavering commitment of M&M in delivering steel plant projects conforming to international standards in quality, safety, and on time completion,” said D K Sen, executive committee member and advisor to the CMD, L&T.
L&T Q3 results
Larsen & Toubro reported a consolidated net profit of Rs 3,359 crore in Q3FY25, reflecting a 13.9 per cent increase compared to Rs 2,947.4 crore in the same period last year (Q3FY24).
The company also posted a consolidated revenue of Rs 64,668 crore for the quarter ending December 31, 2024, reflecting a 17.3 per cent year-on-year (Y-o-Y) growth from Rs 55,127.82 crore. The revenue increase was primarily driven by a robust order book and enhanced execution momentum across L&T's Projects & Manufacturing (P&M) businesses.
About L&T
Larsen & Toubro is a $27 billion Indian multinational enterprise engaged in EPC Projects, Hi-Tech Manufacturing, and Services, operating across multiple geographies.
At 12:55 PM, L&T share price was trading 4.25 per cent higher at Rs 3,427. In comparison, BSE Sensex was trading 1.13 per cent higher at 78,056.68 levels.