L&T shares reverse YTD losses with a new order from Dubai

Infrastructure giant Larsen and Toubro informed the stock exchanges today that its transportation vertical had secured a 'significant order' in Dubai.

Orders between ₹1,000 crore and ₹2,500 crore are considered 'siginificant' by the company.

The latest contract is to execute the convert the currently two lane Latifa Bint Hamdan Street in Dubai, UAE, to a four lane carriageway.

L&T says the project is to be completed in 36 months.

The stock of L&T is up 7 out of last 10 sessions, up 9.8% from the recent low of ₹3,793 hit on January 23, reversing the sell-off triggered by

reports of order cancellation in the Kuwait project in mid-January.

Since then, the stock has gained from strong earnings, and the management saying that the new orders in the current financial year ending March 2026 beat the earlier guidance of 10%

.

The encouraging commentary from the management led to the sharpest rally in 2026, up 3.66% on Jan 29. The stock is up over 13% in the last six months, just ₹36 shy of the 52-week high of ₹4,195.

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