- 08 Apr 2022
- ICICIdirect Research
L&T RECEIVES HEFTY CONTRACTS FOR VARIOUS BUSINESSES
LT - 3947 Change: 80.60 (2.08 %)News: L&T Construction has been awarded significant (Rs 1,000-2,500 crore) contracts for its various businesses. The water & effluent treatment business of UH Construction has secured a contract from the rural drinking water & sanitation division, Karnataka to construct drinking water supply facilities for 396 rural habitations in Dharwad and Belagavi districts from the Renukasagar Reservoir (Navilutheertha dam) on a design, build, operate and transfer mode under the multi village drinking water supply scheme. L&T GeoStructure Pvt Ltd (LTGS) has bagged a strategic order from Tata Chemicals to commission a jetty-based marine outfall system and allied works including construction, procurement and installation of HT pumphouse, jetty mounted piping system (approx. 3.5 km) and diffuser system in the Gulf of Kutch, at Mithapur, Gujarat. The power T&D business has secured a 500kV transmission line project in the Philippines, to be executed along with an onshore partner, that will form part of the transmission backbone to meet the growing demand for electricity in the western parts of Luzon, Philippines
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. Reducing debt makes it an attractive portfolio bet to ride the infrastructure and manufacturing cycle revival theme
Impact: Positive