L&T extends rally to 4th day, up 3% on winning significant order from NPCIL

L&T share price outlook: Analysts at ICICI Securities believe given the backlog growth and pick up in execution there remains a strong revenue growth over the medium term.

Larsen & Toubro (L&T) share price today

 

Shares of Larsen & Toubro (L&T) moved higher by 2.5 per cent to ₹3,675 on the BSE in Tuesday’s intra-day trade after the Heavy Civil Infrastructure (HCI) business vertical of the company said it won a significant order from Nuclear Power Corporation of India Ltd (NPCIL).

 

L&T was trading higher for the third straight day, gaining 4.5 per cent during the period.

 

L&T wins ₹7,500 crore orders in two days; strong order book strengthens

 

On September 16, 2025, the HCI business vertical of L&T said it won a significant order from NPCIL for 2X1000 Mwe Kudankulam Nuclear Power Project (KKNPP - 5 & 6) in Tamil Nadu.

 

 

On September 15, the Transportation Infrastructure business vertical of L&T said it won a large order from the National High Speed Rail Corporation Ltd (NHSRCL) to construct 156 Route Km (RKM) of high-speed ballastless track (Package T1) for the Mumbai Ahmedabad High Speed Rail (MAHSR) corridor.

 

However, L&T did not specify the exact value of the contracts but as per the company’s specification, a significant order is said to be in the range of ₹1,000 crore to ₹2,500 crore, while, large order in the range for ₹2,500 crore to ₹5,000 crore.

 

This is L&T’s second major order in the bullet train project, after an earlier bagging Package T3 (116 km) from Vadodara to Sabarmati. With this win, L&T will now execute over 50 per cent of the track work in India’s first high-speed rail corridor, enhancing revenue visibility. Furthermore, this order further strengthens its order book momentum, ICICI Securities said in a note.

 

Meanwhile, last month on August 11, L&T reportedly had won an ultra-mega order from Adani Power for 6,400MW thermal power for its CarbonLite solutions business. An ultra mega contract is said to be more than ₹15,000 crore, as per L&T.

 

L&T has won an ultra mega order for the supply of Boiler Turbine and Generator (BTG) along with auxiliaries for 6400 MW (800x8) thermal power plant to Adani power. The order will be executed by L&T Energy – CarbonLite Solutions (LTECLS), the company’s specialized business vertical for advanced power and low-carbon technologies, L&T said in an exchange filing.

 

L&T in June 2025 (Q1FY26) quarter earnings conference call said that during the quarter, the company’s order book in the Projects and Manufacturing business portfolio has crossed the significant milestone of ₹ 6 trillion, on the back of a strong ordering momentum.

 

L&T has a reasonably strong prospects pipeline of ₹14.8 trillion for the remaining nine months of the current financial year as compared to ₹9.1 trillion for the same time last year. This represents a sharp increase of 63 per cent on a YoY basis. The increase in the prospects pipeline is mainly led by Infrastructure and Hydrocarbon segments, L&T said.

 

Securing order inflows over and above the guidance range speaks of the diversity of the company’s operations. Analysts at ICICI Securities believe given the backlog growth and pick up in execution there remains a strong revenue growth over the medium term. With continued focus on improvement of overall return ratios and aspiration of 18 per cent ROE by 2026E looks probable. The brokerage firm maintained its BUY rating on the stock with a target price of ₹4,380 (SoTP based).