/images/ppid_59c68470-image-177804512371644058.webp)
/images/ppid_59c68470-image-177803505681948368.webp)
What is the story about?
Larsen and Toubro (L&T) Ltd. on Wednesday, May 6, said its minerals and metals business vertical has won a "mega" order from JSW Steel.
L&T classifies orders in the ₹10,000 crore to ₹15,000 crore range as 'mega'.
It said this is the largest-ever order it has secured in the domestic metals sector.
The company said JSW Steel is looking at expanding its crude steel processing capacity from 35 MTPA to over 50 MTPA by 2031.
In line with this, L&T's minerals and metals vertical will install the critical process facilities, including blast furnaces and steel melt shops, across multiple brownfield/greenfield expansions, mainly at JSW sites in Ballari in Karnataka and Paradip in Odisha.
"Securing the largest-ever order in the metals segment marks a defining moment for L&T's minerals and metals business. Our long-standing partnership with JSW Steel reflects a shared commitment to scale, innovation and nation building," DK Sen, advisor to CMD, development projects and minerals and metals, L&T, said.
L&T reported its fourth quarter earnings on Tuesday.It has guided for 10-12% revenue growth for FY27, similar margins to FY26 at 8.3% and 10-12% growth in order inflow. The company is expecting the first and second quarters of this fiscal to witness disruptions due to delayed shipments.
Brokerage firm Nomura has downgraded its rating on the stock, which HSBC has cut its price target post its fourth quarter earnings.
L&T shares were trading 3.3% lower at ₹3,919.2 apiece at 10.05 am on Wednesday. The stock has gained 5% in the past month and has declined 5.3% this year, so far.
Also Read: Punjab National Bank shares rise after analysts see up to 25% upside on Q4 results, outlook
L&T classifies orders in the ₹10,000 crore to ₹15,000 crore range as 'mega'.
It said this is the largest-ever order it has secured in the domestic metals sector.
The company said JSW Steel is looking at expanding its crude steel processing capacity from 35 MTPA to over 50 MTPA by 2031.
In line with this, L&T's minerals and metals vertical will install the critical process facilities, including blast furnaces and steel melt shops, across multiple brownfield/greenfield expansions, mainly at JSW sites in Ballari in Karnataka and Paradip in Odisha.
"Securing the largest-ever order in the metals segment marks a defining moment for L&T's minerals and metals business. Our long-standing partnership with JSW Steel reflects a shared commitment to scale, innovation and nation building," DK Sen, advisor to CMD, development projects and minerals and metals, L&T, said.
L&T reported its fourth quarter earnings on Tuesday.It has guided for 10-12% revenue growth for FY27, similar margins to FY26 at 8.3% and 10-12% growth in order inflow. The company is expecting the first and second quarters of this fiscal to witness disruptions due to delayed shipments.
Brokerage firm Nomura has downgraded its rating on the stock, which HSBC has cut its price target post its fourth quarter earnings.
L&T shares were trading 3.3% lower at ₹3,919.2 apiece at 10.05 am on Wednesday. The stock has gained 5% in the past month and has declined 5.3% this year, so far.
Also Read: Punjab National Bank shares rise after analysts see up to 25% upside on Q4 results, outlook
/images/ppid_59c68470-image-177813502612735264.webp)
/images/ppid_59c68470-image-177808753383570340.webp)
/images/ppid_59c68470-image-177798514711072037.webp)
/images/ppid_59c68470-image-177799261927897732.webp)
/images/ppid_59c68470-image-177796522736791496.webp)
/images/ppid_59c68470-image-17780725749174244.webp)
/images/ppid_59c68470-image-17779725312911064.webp)
/images/ppid_59c68470-image-177804017970164369.webp)