L&T wins Rs 2500 crore order from ONGC - BUY, SELL or HOLD?
larsen and toubro wins rs 2500 crore order from ongc - buy, sell or hold?
L&T Share Price: Shares of Larsen and Toubro (L&T) Limited will be in focus on July 2 after the construction company secured an order from the ONGC for the eighth phase of Pipeline Replacement Project (PRPVIII Group B) off India's west coast. The order involves engineering, procurement, construction, installation, and commissioning (EPCIC) of 129-km subsea pipelines and associated modification works across India’s west coast offshore fields of the ONGC.
Shares of L&T Limited closed in red on Monday at Rs 3528.20 apiece, down by 0.57 per cent. The scrip registered a high of Rs 3541.40 and a low of Rs 3514. More than 29.61 lakh equity shares changed hands on the day. According to NSE, the company has a total market cap of Rs 4,85,073.91 crore.
L&T Share Price Target 2024
UBS has maintained a Buy rating with a target price of Rs 4180. The brokerage firm believes that the order intake growth has peaked and the company will now focus on execution and managing project-level risks. It further added that the margins and execution are looking better for FY25/26. “Near-term catalysts are limited, but so are expectations. New orders growth and net working capital likely lower vs FY23/24,” the brokerage firm added.
L&T Share Price History
L&T Limited is a component of the BSE Sensex. According to BSE analytics (as of July 2), shares of L&T Limited have fallen by 3.81 per cent and 8.06 per cent in the last 1 month and 3 months, respectively. On a YTD basis, shares of Larsen and Toubro Limited up by 0.15 per cent. In the past 1 year, 2 years, 3 years, 5 years, and 10 years, shares of the civil construction company gained by 42.56 per cent, 124.76 per cent, 136.40 per cent, 126.60 per cent, and 206.54 per cent, respectively.
L&T Dividend History
This year, L&T Limited paid a dividend of Rs 28 in June. Last year, the civil construction company announced a normal dividend of Rs 24 and special dividend of Rs 6. In 2021, and 2022, the company declared a dividend of Rs 18 and Rs 22, respectively.
L&T Dividend Yield
At the current market price, L&T Limited has a dividend yield of 0.79 per cent.