L&T Stock for Monday: dividends, buybacks and big orders could boost share prices

L&T Stock
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L&T stock may rise on Monday as investors eye the stock due to recent news on L&T stock. L&T shares returned 4.42% in just 1 week and this trend may continue. L&T News of dividends, buybacks and fresh big orders could boost share prices for the coming sessions.

L&T offers to buy back equity shares and pay special dividend. L&T Construction bags orders worth over Rs 7,000 crore for Mumbai-Ahmedabad high-speed rail project, boosts L&T stock price. It operates in greater than 50 international locations round the world.  A strong, customer-focused Strategy and a relentless pursuit of top-class best have enabled L&T to attain and maintain Leadership in key areas of its enterprise for eight decades.

Stock performance of L&T

L&T (Larsen & Toubro) bags order worth over ₹7,000 crore for Mumbai-Ahmedabad high-speed rail project. L&T stock hits new 52-week high The L&T stock price touched an all-time high of ₹2,592.55 on July 21, 2023. The closing price of L&T stock on Friday, July 21, 2023 was ₹ 2,586.25, which is ₹ 96.55 more than the previous closing price of the stock, i.e. an increase of 3.88% in the stock price.

L&T Construction bags orders worth over Rs 7,000 crore for Mumbai-Ahmedabad high-speed rail project:

  • Mumbai, July 21, 2023: The National High-Speed ​​Rail Corporation Limited (NHSRCL) has formally awarded the construction work of the 135.45 km lengthy MAHSR C3 package.
  • Which is phase of the prestigious Mumbai Ahmedabad high-speed rail task for L&T’s heavy civil infrastructure business.  The scope of the MAHSR C3 package deal consists of building of viaducts, stations, heads ,River bridges, depots, tunnels, earth structures, stations and different auxiliary works.
  • The about 508 km lengthy Mumbai-Ahmedabad high-speed rail project, additionally recognized as the MAHSR Bullet Train Project, will cowl a distance of 155.76 km in the country of Maharashtra, 4.3 km in the Union Territory of Dadra and Nagar Haveli and 348.04 km in the state of Gujarat and will have 12 stations along the route.  Upon completion, the high-speed rail will run at a pace of 320 kmph, protecting the complete distance in about two hours with constrained stops and three hours with all stops.

L&T Profit more than doubled to Rs 531 crore under Q1 result:

Revenue from operations grew 8% to Rs 3,223 crore during the quarter under review, as against Rs 2,988 crore in the previous year quarter.  The company said it has already achieved its “Target 2026 goal” of more than 80% retail sales three years in advance. Retail PAT for Q1 stood at Rs 533 crore, up 176% year-on-year, due to stable net interest margin and reduction in expenses and savings costs. The retail book size at Rs 64,274 crore is up 34% in Q1 from Rs 47,794 crore in the equal quarter last year. The retail portfolio combine of the company now stands at 82% of the total loan book.  Retail distribution stood at Rs 11,193 crore, up 25% year-on-year, pushed through strong boom throughout all retail verticals coupled with top-notch digital and data analytics.

L&T considering giving special dividend

Larsen & Toubro (L&T) on Thursday announced that it will reflect on consideration on share buyback at its board meeting next week. The L&T board is scheduled to preserve a meeting on July 25 to approve the June quarter results, buyback of equity shares under the provisions of the Companies Act, 2013 and SEBI (Buyback of Securities) Regulations 2018 and additionally to think about special dividend on equity shares for the financial year 2023-24.

L&T said, “If the special dividend is approved, the record date for the purpose of identifying the eligibility of equity shareholders for the stated dividend shall be Wednesday, August 2, 2023.

also read: Why Infosys share price falling 9% in a day

The merger of L&T Innovation Campus (Chennai) Limited with L&T Seawoods Limited

The company additionally announced that its board has accepted the merger of two of its absolutely owned subsidiaries – L&T Innovation Campus (Chennai) Limited with L&T Seawoods Limited. “The Board of Directors of L&T Innovation Campus (Chennai) Limited (LTICCL) at its meeting held on July 19, 2023, has accepted the Scheme of Arrangement for the amalgamation of LTICCL with L&T Seawoods Limited (LTSL).

Upon approval from the regulators as nicely as shareholders, LTICCL will stop to be a subsidiary of the company. LTSL has completed development of 2.7 million sq. ft. of commercial/retail area in Navi Mumbai and 2.1 million sq. feet of residential phase is partly completed/under development.  It has majority interest in SPVs which are task residential developments in Parel (2.8 msfit), Mulund (3.1 msft) and Ghatkopar (1 msft).  The current net really worth of LTSL is Rs 2,500 crore. On the different hand, LTICCL plans to launch 1.2 msft residential and 2.1 msft IT/ITeS industrial development in Chennai.  The equity share capital of LTICCL is presently Rs 7 crore and has no

Frequently Asked Questions:

L&T dividend announcement date?

The L&T board is scheduled to preserve a meeting on July 25 to approve the June quarter results, buyback of equity shares under the provisions of the Companies Act, 2013 and SEBI (Buyback of Securities) Regulations 2018 and additionally to think about special dividend on equity shares for the financial year 2023-24.

L&T share 2026 Target goal?

Revenue from operations grew 8% to Rs 3,223 crore during the quarter under review, as against Rs 2,988 crore in the previous year quarter. The company said it has already achieved its “Target 2026 goal” of more than 80% retail sales three years in advance. Retail PAT for Q1 stood at Rs 533 crore, up 176% year-on-year, due to stable net interest margin and reduction in expenses and savings costs.

L&T Q1 2023 Result?

The retail book size at Rs 64,274 crore is up 34% in Q1 from Rs 47,794 crore in the equal quarter last year. The retail portfolio combine of the company now stands at 82% of the total loan book.

Stock performance of L&T July 2023?

L&T stock hits new 52-week high The L&T stock price touched an all-time high of ₹2,592.55 on July 21, 2023. The closing price of L&T stock on Friday, July 21, 2023 was ₹ 2,586.25, which is ₹ 96.55 more than the previous closing price of the stock, i.e. an increase of 3.88% in the stock price.

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