Larsen & Toubro (L&T), the multinational conglomerate, has seen a rise in its share price this Thursday. This upward trend follows the announcement that L&T's Buildings & Factories business secured orders worth Rs 2,500-5,000 crore for projects in Bengaluru, Hyderabad, and at the Indian Institute of Technology, Kanpur.
Adding to this positive financial news, CLSA, an investment bank, has maintained a buy rating on L&T's stock. The bank set its target price for L&T at Rs 3,600 per share and projected that the company would achieve half of its fiscal year 2024 (FY24) guidance inflow in the first half of the year.
Further bolstering L&T's prospects, the company's power business secured an Engineering, Procurement and Construction (EPC) order from West Bengal Power Development Corporation Limited. This order, worth up to Rs 2,500 crore, is for setting up Flue Gas Desulphurisation systems at Sagardighi Thermal Power Plant.
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