L&T hits fresh high on EPC order win of Rs 5K-10K crore; zooms 70% in 2023

Shares of Larsen & Toubro (L&T) rose 2 per cent Wednesday to a fresh high of Rs 3,548 on the BSE. The stock reacted to the company's arm winning a major engineering, procurement and construction (EPC) order. 

The 'major' order won by L&T Construction pertains to establishing systems related to renewable energy generation and utilities, for the Amaala project in the Red Sea region, Saudi Arabia. 

L&T classifies a 'major' order as the one worth anywhere between Rs 5,000-Rs 10,000 crore. 

Amaala is an ultra-luxury destination set in the Prince Mohammed bin Salman Natural Reserve along Saudi Arabia’s northwestern coast. 

L&T said that the