Shares of Larsen and Toubro Ltd. are trading flat after touching a day’s high of Rs 3,794 on 30 July, after the company announced its wholly-owned subsidiary, L&T Parel Project Pvt. Ltd., signed a Memorandum of Understanding (MoU) with Valor Estate Limited to develop real estate projects in Mumbai.

The company stated that there is a need for due diligence to be carried out and conditions precedent to exist before signing a definitive agreement. This statement comes in light of the news surrounding a Rs 20,000 crore project that it co-developed with Valor Estate in the Bandra-Kurla Complex.

On 29 July, L&T’s power transmission and distribution business secured multiple orders ranging from Rs 2,500 crore to Rs 5,000 crore. These orders involve building grid elements crucial for the clean energy transition.

The firm expects a 10% increase in order inflow, 15% revenue growth, and an 8.25% core margin for FY 2025.

For the June quarter, L&T’s core business margin was 7.6%, up 20 basis points from last year but below guidance.

The stock has risen 10.08% YTD. The total traded volume on the NSE is 0.53 times its 30-day average, while the relative strength index is at 62.90.

At 2:58 PM, the shares of L&T Ltd. were trading 0.34% higher at Rs 3787.70 on BSE.

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