Larsen & Toubro (L&T) shares rose nearly 1% to hit a 52-week high of 4,164.20 in Friday’s trading session, January 2, after the company bagged an order from Steel Authority of India (SAIL), further bolstering its order book.
In an exchange filing today, L&T announced that its minerals and metals (M&M) vertical has secured “major” orders from SAIL and other customers for EPC projects and products in the domestic metals sector.
According to the filing, L&T categorises orders valued between 5,000 crore and 10,000 crore as “major” contracts.
“L&T and SAIL share a long-standing relationship spanning several decades, marked by the successful execution of numerous metallurgical projects across India. This partnership continues to play a pivotal role in advancing India’s steel manufacturing ecosystem through innovation, capacity augmentation and sustainable development,” the company said in the release.
As part of its ambitious modernization and expansion drive, SAIL aims to raise the crude steel capacity of its IISCO Steel Plant at Burnpur, West Bengal, from 2.5 MTPA to 6.5 MTPA.
Under this expansion plan, M&M has secured the full engineering, procurement and installation scope for key process units, including the Coke Oven Battery, By-Product Plant and Basic Oxygen Furnace, along with a specialized material-handling equipment package. These facilities will collectively constitute the backbone of the new steel complex.
Additionally, the M&M business has won several orders for specialized material handling equipment—such as stacker reclaimers and wagon tipplers—from clients across India, underscoring its ability to provide advanced, dependable solutions throughout the minerals and metals value chain.
“The trust placed in L&T by SAIL once again validates our expertise in delivering complex, technology-intensive projects under challenging schedules. These wins reaffirm our commitment to delivering projects on time, demonstrate our technical capabilities and adherence to project timelines. This also brings out our capabilities in end-to-end execution of complex process packages,” said T Kumaresan, Senior Vice President & Head – Minerals & Metals, L&T.
Recently, L&T secured three orders totaling 15,000 crore within a span of four days. As of the September quarter, L&T’s order book stood at 667,000 crores. A strong order pipeline enhances revenue visibility and signals strong customer demand for the company’s products or services.
L&T share price trend
L&T shares have remained in the green despite weak market sentiments. The multibagger stock gained over 3% in a month and 15.49% in six months.
The shares of the conglomerate have delivered multibagger returns of 220.28% in the last five years and have multiplied investors’ money by soaring 22,699% since its listing in 1999.
L&T stock is listed on both BSE and NSE. Its 52-week low stands at 2,965.30, hit on April 7, 2025.
L&T share price: Technical analysis
According to Anshul Jain, Head of Research at Lakshmishree, L&T has completed a powerful weekly continuation setup, forming a seven-week pole followed by a tight nine-week low-volume flag.
He explained that the breakout above 4100 in the previous session confirms pattern resolution with ideal volume behaviour, signaling strong institutional sponsorship.
“Price compression during the flag was orderly, allowing weekly, monthly, and daily 10, 20, and 50 EMAs to catch up and align beneath price. This moving average cluster is now acting as a firm launchpad for trend expansion. Momentum structure remains clean across timeframes, with no signs of distribution. As long as the stock sustains above the breakout zone, the setup projects an immediate upside toward the 4900 to 5000 zone. Any pullback towards the EMA cluster is likely to find demand rather than supply,” Jain said.
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