Why has L&T rallied so sharply in the last few weeks?
Answer
Answer
In case you did not notice, the stock of L&T has rallied nearly 40% in the last 6 weeks, which is phenomenal for a stock of that size. This rally has largely to do with a sharp rise in order flow for L&T.
Larsen & Toubro bagged orders for construction and also for a wide range of power transmission and distribution projects. Some of these orders add up to around Rs.2500 crore and adds to the already robust order book of L&T.
L&T has also emerged as the lowest bidder for orders worth close to Rs.5500 crore; including an order from the Nuclear Power Corporation or NPCIL for its highly controversial Kudankulam project.
Apart from all the above projects, L&T will also be designing and building a multi-specialty hospital in the city of Nagpur and an office building at Bengaluru for a reputed IT company. Its current order book position is in excess of Rs.6 trillion.