L&T declared in an exchange filing that SAIL and other clients have placed significant orders for EPC projects and goods in the domestic metals industry through its minerals and metals vertical.
In Friday's trading session on January 2, Larsen & Toubro (L&T) shares increased by about 1% to reach a 52-week high of ₹4,164.20 after the business received an order from Steel Authority of India (SAIL), further strengthening its order book.
L&T revealed in an exchange filing today that SAIL and other clients have placed "major" orders for EPC projects and products in the domestic metals industry through its minerals and metals (M&M) vertical.
Orders worth between ₹5,000 crore and ₹10,000 crore are classified as "major" contracts by L&T, according to the document.
"L&T and SAIL have a long-standing partnership that dates back several decades, as seen by the successful completion of multiple metallurgical projects around India. According to the company's statement, "This partnership continues to play a crucial role in advancing India's steel manufacturing ecosystem through innovation, capacity augmentation, and sustainable development."
SAIL intends to increase the crude steel capacity of its IISCO Steel Plant in Burnpur, West Bengal, from 2.5 MTPA to 6.5 MTPA as part of its aggressive modernization and development program.
M&M has obtained the whole engineering, procurement, and installation scope for important process units, such as the Coke Oven Battery, By-Product Plant, and Basic Oxygen Furnace, as well as a specialized material-handling equipment package, under this expansion plan.
Furthermore, the M&M company has received multiple orders from customers throughout India for specialized material handling equipment, such as wagon tipplers and stacker reclaimers, demonstrating its capacity to offer cutting-edge, reliable solutions throughout the minerals and metals value chain.
"SAIL's confidence in L&T confirms our proficiency in completing intricate, technologically demanding projects on difficult timelines. These victories show our technical prowess and commitment to timely project delivery. T Kumaresan, Senior Vice President & Head of Minerals & Metals at L&T, stated, "This also highlights our capabilities in end-to-end execution of complex process packages."
In just four days, L&T was able to obtain three orders totaling ₹15,000 crore. L&T had ₹667,000 crore in its order book as of the September quarter. A robust order pipeline indicates high consumer demand for the company's goods or services and improves revenue visibility.
Trends in L&T share prices
Despite negative market sentiment, L&T shares have continued to rise. The multibagger stock increased by more than 3% in just one month and 15.49% during a six-month period.
The conglomerate's shares have multiplied investors' money by a staggering 22,699% since their IPO in 1999 and have produced multibagger returns of 220.28% during the last five years.
Both the BSE and the NSE list L&T stock. On April 7, 2025, it reached its 52-week low of ₹2,965.30.
Technical examination of the price of L&T shares
Anshul Jain, Head of Research at Lakshmishree, claims that L&T has finished a strong weekly continuation setup that creates a tight nine-week low-volume flag after a seven-week pole.
He clarified that the previous session's breakout over 4100 indicates significant institutional sponsorship and validates pattern resolution with optimum volume behavior.
Weekly, monthly, and daily 10, 20, and 50 EMAs were able to catch up and align below price due to the orderly price compression that occurred during the flag. This moving average cluster is currently serving as a solid starting point for the growth of the trend. There are no indications of distribution and the momentum structure is consistent across time.
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