L&T shares up 0.71% after securing two major West Asia contracts
Larsen & Toubro's shares rose 0.71% on Tuesday, closing at ₹4,119 on the NSE after gaining ₹29 from the previous close of ₹4,090. The stock traded between ₹4,06,066.60 and ₹4,125.30 during the session, with a volume-weighted average price of ₹4,094.45.
The gain followed back-to-back announcements of large international contracts filed with the BSE and NSE on August 24 and 25. On August 24, L&T's Energy Hydrocarbon Onshore division announced an ultra-mega gas compression facilities project in West Asia, classified as having a contract value above ₹15,000 crore. The project includes EPC for gas compression plants handling sour gas and two 230 kV extra-high-voltage substations executed by the company's Power Transmission Distribution business.
On August 25, L&T's Renewables business announced a separate major order valued between ₹5,000 crore and ₹10,000 crore for three Battery Energy Storage System (BESS) projects in West Asia. The three projects together provide 6 gigawatt-hours of storage capacity and include grid interconnections, pooling substations, and underground cables, with each featuring a 4-hour BESS using liquid cooling technology.
These awards significantly strengthen L&T's order book in West Asia across both hydrocarbon and renewables segments, highlighting its capabilities as a large-scale EPC contractor in the region. The company, a $32 billion Indian multinational with eight decades of operations in EPC, hi-tech manufacturing, and services, continues to expand its international footprint.
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