Order pick up to sustain growth momentum for engineering major L&T

L&T's 9MFY24 saw a 65% surge in orders to Rs 1.8 trn propelled by international inflows, while domestic orders dipped by 11%

Engineering major Larsen & Toubro (L&T) has seen share price volatility in the past few months due to concerns about order inflows. The domestic market has seen a deceleration in orders, partly due to election-related uncertainties and partly because of decline in orders from the domestic oil and gas industry. In addition, there were concerns about key client Saudi Aramco easing up on capex.

L&T received orders worth Rs 1.8 trillion in 9MFY24, up 65 per cent year-on-year (Y-o-Y). This was driven by overseas orders. Domestic inflows declined by 11 per cent. Infrastructure segment orders were flat due to election-related