L&T shares soar on bagging 'significant order' from JSW Energy for ₹1,000-2,500 crore

Shares of Larsen & Toubro (L&T) surged 1.44% to an intra-day high of ₹3,708.90 apiece on the National Stock Exchange (NSE) on Monday, June 9. This comes after the infrastructure major announced that it bagged a “significant order” worth ₹1,000-₹2,500 crore from JSW Energy.

L&T’s heavy civil vertical received the order to execute a pump storage project in Maharashtra, the company said in a regulatory filing.

Larsen & Toubro (L&T) uses the term 'significant order' to refer to contracts valued between ₹1,000 crore and ₹2,500 crore.

The order has been bagged for the "execution of Bhavali Pumped Storage Project (PSP) in the state of Maharashtra," the filing said.

The project is strategically located across the Nashik and Thane districts of Maharashtra and is designed to have a total installed capacity of 1,500 MW, comprising various small units.

The scope of work encompasses the complete execution of all civil works related to the project, including the construction of approach roads, upper and lower reservoirs, water conductor system, pressure tunnels and the underground powerhouse unit.

Pump storage projects such as the Bhavali PSP are pivotal to grid stability, particularly in the context of growing integration of variable renewable energy sources.

L&T Q4 results

L&T reported a 25% year-on-year (YoY) increase in its consolidated net profit to ₹5,497.26 crore in the March FY25 quarter, compared to ₹4,396.12 crore in the corresponding period last year.

In the quarter under review, its revenue from operations stood at ₹74,392.28 crore, jumping 11% YoY from ₹67,078.68 crore in Q4FY24.

L&T stock performance

At around noon, the stock was trading 0.72% higher at ₹3,682.80, outperforming the NIFTY50, which was up 0.42%.

L&T shares fell 0.51% over the past week but have gained 0.19% since the beginning of June. The scrip soared 2.06% on a year-to-date basis.

The stock hit a 52-week low of ₹2,965.30 on April 7, 2025, and a high of ₹3,963.50 on December 10, 2024.