L&T shares jump 4% on ₹1,000-₹2,500cr order win
Business
Larsen & Toubro (L&T) shares rose as much as 4%, hitting an intraday high of ₹3,646.50 on Wednesday, marking a 9% gain over two sessions.
The surge follows L&T's water and effluent treatment (WET) business securing a significant design-build-operate order (classified at ₹1,000-₹2,500 crore) to build a sustainable water supply system for southeast Guwahati, Assam; exact value not disclosed.
L&T says its projects in West Asia are running smoothly
Even though L&T's shares recently dipped 15% due to Middle East tensions, the company says 95% of its projects there are still running smoothly.
West Asia is a huge part of L&T's game plan (making up nearly 40% of its total orders and most of its international business) with active sites in places like Saudi Arabia and the UAE.