L&T secures significant contracts from India, abroadLT - 1595 Change: 51.80 (3.36 %)
News: L&T announced that Gujarat Water Infrastructure (GWIL) placed an EPC orders for the design and construction of the Dhanki-Navda bulk pipeline project to the company in Gujarat. The project aims to enhance water supply capacity to meet the future demands of Amreli, Junagadh, Botad and Rajkot districts of Gujarat. The scope includes the design of L&T Construction of 99 km bulk transmission MS pipeline, 10.5 ML RCC raw water sump L&T pump house and associated electro mechanical L&T instrumentation works. Further, the international arm of the business has been awarded a project from a client for the supply, installation, testing, and commissioning of water distribution network and large meter connections in Dubai. The scope includes water distribution networks of 137 km GRE pipelines, micro tunnelling works, SCADA and associated civil, mechanical and electrical works.
Views: L&T remains the best way to play the capex recovery theme in India given its strong execution capability, presence across diverse sectors and geographies, which makes it less vulnerable during down cycles. Focus on monetisation of non-core assets, improving RoEs and reducing debt make it an attractive portfolio bet to ride the infrastructure and manufacturing cycle revival theme.