Larsen and Toubro Ltd

The key equity benchmarks ended with minor losses today, amid foreign institutional investors (FII) selling and Sensex's weekly derivatives contract expiry today. Market participants will closely monitor rupee movement, FII activity, IPO-related developments, and global cues. The Nifty settled below the 26,150 mark after hitting day's high of 26,236.40 in morning trade. Oil & gas, pharma and It stocks declined while media and metal shares advanced. As per provisional closing data, the barometer index, the S&P BSE Sensex declined 116.14 points or 0.14% to 85,408.70. The Nifty 50 index fell 35.05 points or 0.13% to 26,142.10. In the broader market, the S&P BSE Mid-Cap index slipped 0.37% and the S&P BSE Small-Cap index dropped 0.14%. The market breadth was negative. On the BSE, 1,843 shares rose and 2,342 shares fell. A total of 152 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 1.99% to 9.19. The stock market will be closed tomorrow, 25 December 2025, on account of Christmas. IPO Update: Gujarat Kidney and Super Speciality received bids for 6,48,11,264 shares as against 1,32,26,880 shares on offer, according to stock exchange data at 15:30 IST on Wednesday (24 December 2025). The issue was subscribed 4.90 times. The issue opened for bidding on 22 December 2025 and it will close on 24 December 2025. The price band of the IPO is fixed between Rs 108 and 114 per share. Economy: On 23 December 2025, Reserve Bank of India (RBI) stated that on a review of current liquidity, it has decided to conduct the operations to inject liquidity into the banking system. It includes open market operations (OMO) purchase auctions of Government of India securities for an aggregate amount of Rs 2,00,000 crore in four tranches of Rs 50,000 crore each to be held on December 29, 2025, January 05, 2026, January 12, 2026, and January 22, 2026 and USD/INR Buy/Sell Swap auction of USD 10 billion for a tenor of 3 years to be held on January 13, 2026. Buzzing Index: The Nifty Oil& Gas index declined 0.78% to 11,959.40. The index jumped 1.73% in the past three consecutive trading sessions. Mahanagar Gas (down 1.33%), Indian Oil Corporation (down 1.32%), Aegis Logistics (down 1.29%), Bharat Petroleum Corporation (down 1.2%), Indraprastha Gas (down 1.19%), Gujarat Gas (down 1.13%), Hindustan Petroleum Corporation (down 0.96%), GAIL (India) (down 0.73%), Oil & Natural Gas Corpn (down 0.73%) and Reliance Industries (down 0.69%). Stocks in Spotlight: Larsen & Toubro (L&T) shed 0.26%. The company announced that its transportation infrastructure business vertical has secured a significant order for Mumbai metro railway project. As per L&T's internal classification, the contract falls under the 'significant' category, with an estimated value in the range of Rs 1,000 crore to Rs 2,500 crore. GK Energy jumped 3.39% after the company received an amended Letter of Empanelment from Maharashtra State Electricity Distribution Company. The LoE is for 10,000 off-grid DC solar water pumping systems. The pumps include 3 HP, 5 HP and 7.5 HP variants. They will be supplied across Maharashtra under the Magel Tyala Saur Krushi Pump Yojana and the PM-KUSUM B scheme.The order is valued at Rs 254.30 crore. The installation is to be completed within 60 days from the work order or notice to proceed. Captain Polyplast rallied 3.62% after the company announced that it has received an additional empanelment for 1,000 solar pumps under the PM KUSUM B scheme from MSEDCL, with an aggregate order value of Rs 27.69 crore. Monarch Surveyors and Engineering Consultants added shed 0.42%. The company secured a contract worth Rs 7.83 crore from the Nashik Municipal Corporation. The contract involves carrying out survey and allied works for lands requisitioned for the Sinhastha Kumbh Mela 2027-28 in Nashik and Trimbak. Crompton Greaves Consumer Electricals fell 0.83%. The company announced that it has received an order worth Rs 46.20 crore from Maharashtra State Electricity Distribution Company (MSEDCL). The order covers 2,000 solar water pumping systems, with a total work order value of Rs 46,20,48,229. Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) dropped 0.30%. The company said that it has awarded a contract worth Rs 0360 crore to Toyo Engineering India for the supply of an Ammonium Nitrate-II plant on a LEPC (lump-sum engineering, procurement & construction) basis. Global Markets: European markets saw muted trading on Wednesday during a shortened Christmas Eve session. Asian market ended mixed, breaking ranks with Wall Street that saw key benchmarks advance overnight after better-than-expected economic growth data. Media reports from Japan said that the country was set to issue about 29.6 trillion yen (about $190 billion) in new government bonds to fund its fiscal 2026 budget. The South Korean won strengthened against the greenback after media reports stated that South Korea's national pension fund was carrying out strategic foreign exchange hedging activities. Spot gold prices hit another record Wednesday, crossing $4,500 per ounce for the first time, driven by a weaker dollar, geopolitical tensions and U.S. Federal Reserve rate-cut expectations. Gold has notched a series of all-time highs this year, soaring over 70% year to date. Overnight in the U.S., stocks rose for a fourth straight session as artificial intelligence names continued to outperform during a holiday-shortened week. US GDP grew 4.3% in third quarter compared with 3.8% growth recorded in Second quarter. This is also the highest quarterly GDP growth in the US economy in the past 2 years. The S&P 500 added 0.46%, closing at a record level of 6,909.79. The broad market index is now just below its intraday all-time high of 6,920.34. The Nasdaq Composite climbed 0.57% to end at 23,561.84. Gains in tech giants such as Nvidia and Broadcom lifted the index. The Dow Jones Industrial Average rose 79.73 points, or 0.16%, and settled at 48,442.41.Powered by Capital Market - Live

The key equity benchmarks erased most of their gains and traded near flat line in early afternoon trade. The market showed slight resilience despite FII outflows and the Sensex's weekly derivatives expiry today. Sentiments also supported after the RBI also announced liquidity infusion of about Rs 2 lakh crore, which is expected to support the domestic currency and ease liquidity conditions. Market participants will closely monitoring rupee movement, FII activity, IPO-related developments, and global cues. The Nifty traded above the 26,150 mark. Realty shares rebounded after declining in the past trading session. At 12:25 ST, the barometer index, the S&P BSE Sensex advanced 12.16 points or 0.04% to 85,558.87. The Nifty 50 index advanced 15.70 points or 0.06% to 26,192.85. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.22% and the S&P BSE Small-Cap index added 0.14%. The market breadth was positive. On the BSE, 2,044 shares rose and 1,895 shares fell. A total of 197 shares were unchanged. The stock market will be closed tomorrow, 25 December 2025, on account of Christmas. Economy: On 23 December 2025, Reserve Bank of India (RBI) stated that on a review of current liquidity, it has decided to conduct the operations to inject liquidity into the banking system. It includes open market operations (OMO) purchase auctions of Government of India securities for an aggregate amount of Rs 2,00,000 crore in four tranches of Rs 50,000 crore each to be held on December 29, 2025, January 05, 2026, January 12, 2026, and January 22, 2026 and USD/INR Buy/Sell Swap auction of $10 billion for a tenor of 3 years to be held on January 13, 2026. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 1.57% to 9.23. The Nifty 30 December 2025 futures were trading at 26,235, at a premium of 42.15 points as compared with the spot at 26,192.85. The Nifty option chain for the 30 December 2025 expiry showed a maximum call OI of 154 lakh contracts at the 26,200 strike price. Maximum put OI of 163.7 lakh contracts was seen at 26,200 strike price. Buzzing Index: The Nifty Realty index rose 0.38% to 887.05. The index declined 0.17% in the past trading session. Oberoi Realty (up 1.22%), Anant Raj (up 1.05%), Phoenix Mills (up 0.77%), Godrej Properties (up 0.52%), DLF (up 0.27%), Prestige Estates Projects (up 0.04%) and SignatureGlobal India (up 0.04%) surged. Stocks in Spotlight: Larsen & Toubro (L&T) shed 0.03%. The company announced that its transportation infrastructure business vertical has secured a significant order for Mumbai metro railway project. As per L&T's internal classification, the contract falls under the 'significant' category, with an estimated value in the range of Rs 1,000 crore to Rs 2,500 crore. Captain Polyplast rallied 2.37% after the company announced that it has received an additional empanelment for 1,000 solar pumps under the PM KUSUM B scheme from MSEDCL, with an aggregate order value of Rs 27.69 crore. Monarch Surveyors and Engineering Consultants added 0.42% after the company secured a contract worth Rs 7.83 crore from the Nashik Municipal Corporation.Powered by Capital Market - Live

The Transportation Infrastructure business vertical of L&T has won significant order for Mumbai metro railway project. According to the company's project classification, the value of the order is in the range of Rs 1,000 crore to Rs 2,500 crore. The Mumbai metro railway project, Package CA-298, awarded by Mumbai metropolitan Region Development Authority (MMRDA), pertains to the electrification of 24.72 Km long Line 4 that runs between Bhakti Park (Wadala) to Cadbury junction having 22 elevated stations. The scope encompasses design, manufacture, supply, installation, integration, testing and commissioning of power supply and traction systems for 24.72 route km and provision of SCADA system for complete Metro line 4 & 4A for 32 stations, depots and receiving substation. All work will be carried out by L&T's in-house design and execution team. The scope also includes electrical and mechanical works, Lift & Escalators for 22 elevated stations and 2 Depots, along with five years of comprehensive maintenance. This is the third successive order that L&T has won in the Line-4&4A corridor of Mumbai Metro. It had earlier won the order for Package CA-234, involving rolling stock, Communications-Based Train Control (CBTC) signalling, telecommunications, platform screen doors and depot machinery & plant for the entire corridor, and another order for Package CA-168, involving 19.5 km ballast-less track-works across 15 stations. Powered by Capital Market - Live

As per L&T's internal classification, the contract falls under the 'significant' category, with an estimated value in the range of Rs 1,000 crore to Rs 2,500 crore. The contract, Package CA-298, awarded by the Mumbai Metropolitan Region Development Authority (MMRDA), covers the electrification of the 24.72 km-long Line 4, running from Bhakti Park (Wadala) to Cadbury Junction, which includes 22 elevated stations. The scope of work includes design, manufacture, supply, installation, integration, testing, and commissioning of power supply and traction systems along the route. L&T will also provide a SCADA system for Metro Lines 4 and 4A, covering 32 stations, depots, and receiving substations. Additional works include electrical and mechanical installations, lifts and escalators for 22 elevated stations and 2 depots, along with five years of comprehensive maintenance. All work will be executed by L&T's in-house design and execution team. This marks L&T's third consecutive order in the Line 4 & 4A corridor. The company had earlier won package CA-234, covering rolling stock, CBTC signalling, telecommunications, platform screen doors, and depot machinery, and package CA-168, involving 19.5 km of ballast-less track works across 15 stations. Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing, and services. The company reported a 15.6% jump in consolidated net profit to Rs 3,926.09 crore on a 10.4% increase in revenue from operations to Rs 67,983.53 crore in Q2 FY26 over Q2 FY25. Shares of Larsen & Toubro rose 0.07% to currently trade at Rs 4,062.05 on the BSE. Powered by Capital Market - Live

As per L&T's internal classification, the contract falls under the 'major' category, with an estimated value in the range of Rs 5,000 crore to Rs 10,000 crore. The scope of the project includes setting up a Linear Low-Density Polyethylene/High-Density Polyethylene (LLDPE/HDPE) Swing Unit comprising two trains of 575 kilotonnes per annum (KTPA) each at BPCL's Bina facility in Madhya Pradesh. The project will be executed on a lump sum turnkey basis. Once completed, the facility will be India's largest LLDPE/HDPE swing unit, marking a significant milestone in domestic polyethylene production capacity. The project is a key component of BPCL's Bina Petrochemicals & Refinery Expansion Project, which aims to establish a petrochemical complex and expand refinery capacity from 7.8 million metric tonnes per annum (MMTPA) to approximately 11 MMTPA. The project aligns with the Government of India's 'Aatmanirbhar Bharat' initiative by strengthening indigenous manufacturing capabilities and reducing dependence on imports of polymers. L&T Onshore is one of India's largest EPC businesses, delivering comprehensive lump-sum turnkey solutions across the upstream, midstream and downstream hydrocarbon sectors. With a strong execution track record across geographies, it has delivered refinery expansions, petrochemical complexes, gas processing plants, fertiliser plants, LNG terminals and crosscountry pipelines. Subramanian Sarma, deputy managing director & president of L&T, said, 'This is a major order that will not only strengthen our balance sheet but also provide impetus to our demonstrated credentials in downstream hydrocarbon EPC space.' E S Sathyanarayanan, senior vice president & IC head of L&T Energy Hydrocarbon ' Onshore & member of the Ecom ' L&T, said, 'In the ever-evolving landscape of the hydrocarbon and petrochemical sector, this win for L&T Onshore is a testament to the trust that customers repose in our execution and delivering capabilities. We are fully committed to delivering the project with high standards of HSE and quality.' Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing, and services. The company reported a 15.6% jump in consolidated net profit to Rs 3,926.09 crore on a 10.4% increase in revenue from operations to Rs 67,983.53 crore in Q2 FY26 over Q2 FY25. The scrip rose 0.21% to currently trade at Rs 4,080.20 on the BSE. Bharat Petroleum Corporation is a public sector company which is engaged in the business of refining crude oil and marketing petroleum products. The company reported a 168.74% jump in standalone net profit to Rs 6,442.53 crore in Q2 FY26 as against Rs 2,397.23 crore posted in Q2 FY25. Net sales (excluding excise duty) rose 2.09% year-on-year (YoY) to Rs 1,04,912.47 crore in the September 2025 quarter. The counter added 0.61% to Rs 372.20 on the BSE. Powered by Capital Market - Live

 L&T's Hydrocarbon Onshore business vertical (L&T Onshore) has won a major order from Bharat Petroleum Corporation (BPCL). According to the company's project classification, the order is classified as 'major project' valued in the range of Rs 5,000 crore to Rs 10,000 crore. The scope of work encompasses engineering, procurement, construction and commissioning of a Linear Low-Density Polyethylene / High-Density Polyethylene (LLDPE / HDPE) Swing Unit comprising two trains of 575 KTPA each, at Bina in Madhya Pradesh. To be executed by L&T Onshore on a Lump Sum Turnkey basis, it will be India's largest LLDPE / HDPE Swing Unit, setting a new benchmark in polyethylene production capacity. The project forms an integral part of BPCL's Bina Petrochemicals & Refinery Expansion Project which aims to set up a petrochemical complex and enhance refinery capacity from 7.8 MMTPA to ~11 MMTPA. It aligns with Government of India's 'Aatmanirbhar Bharat' vision by strengthening domestic manufacturing and achieving self-sufficiency in polymer production. Powered by Capital Market - Live

The Buildings & Factories (B&F) business vertical of L&T has recently won multiple orders in India. According to the company's project classification, the value of the orders ranges between Rs 2,500 crore to Rs 5,000 crore. The business has secured an order from Madhya Pradesh State Tourism Development Corporation to construct Advait Lok (Acharya Shankar Museum Complex & Parking) at Omkareshwar in Khandwa district. The engineering, procurement and construction (EPC) order entails the development of a state-of the-art global museum, distinguished by large-scale intricate stone carvings and glass fibre reinforced concrete architectural elements. The museum is to showcase the life and philosophy of Acharya Shankar through curated exhibits. The scope includes civil structure and architectural finishes, mechanical, electrical and plumbing (MEP) services, external development including parking facilities, and operations and maintenance for five years. The project is to be delivered in 36 months. The business has also received an EPC order from the Assam Government for Redevelopment of R G Baruah Sports Complex located at Sarusajai in Guwahati. The project involves the construction of a FIFA-compliant football stadium with a seating capacity of 25,000. In addition, the project includes developing a range of sports and allied facilities. The project is to be delivered in 27 months. The business has secured another order from a reputed developer for the construction of luxury high rise residential towers in Mumbai. This project comprises three towers featuring two basements, a ground floor and 45 to 66 upper floors, incorporating reinforced concrete shell and core structures, premium finishes and comprehensive MEP services. The towers will rise to a height of up to 230 metres. Powered by Capital Market - Live

The value of the contract, according to L&T's internal classification, ranges between Rs 2,500 crore and Rs 5,000 crore. The business has bagged an EPC order from Madhya Pradesh State Tourism Development Corporation for construction of Advait Lok (Acharya Shankar Museum Complex & Parking) at Omkareshwar in Khandwa district. The project involves the development of a state-of-the-art global museum showcasing the life and philosophy of Acharya Shankar, featuring intricate stone carvings and glass fiber reinforced concrete architectural elements. The scope includes civil and architectural works, MEP services, external development with parking facilities, and operations and maintenance for five years. The project is to be executed in 36 months. The company has also received an EPC order from the Assam Government for redevelopment of the R G Baruah Sports Complex at Sarusajai in Guwahati. The project entails construction of a FIFA-compliant football stadium with a seating capacity of 25,000, along with allied sports facilities, to be completed in 27 months. In addition, the B&F business has secured an order from a reputed developer for the construction of luxury high-rise residential towers in Mumbai. The project comprises three towers with two basements, a ground floor, and 45 to 66 upper floors, rising up to 230 meters, and includes reinforced concrete shell and core structures, premium finishes, and comprehensive MEP services. Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing, and services. The company reported a 15.6% jump in consolidated net profit to Rs 3,926.09 crore on a 10.4% increase in revenue from operations to Rs 67,983.53 crore in Q2 FY26 over Q2 FY25. The scrip shed 0.14% to currently trade at Rs 4,056.70 on the BSE.Powered by Capital Market - Live

The Indian Army has signed a contract for the procurement of BvS10 Sindhu vehicles from Larsen & Toubro (L&T), who teamed with BAE Systems on the programme. Under the contract, L&T will indigenously produce the BvS10 Sindhu at its Armoured Systems Complex in Hazira with technical and design support from BAE Systems H'gglunds, the original manufacturer of the BvS10 platform. The contract also includes a comprehensive integrated logistics support package for initial deployment, maintenance, and life-cycle sustainment. The BvS10 Sindhu is an upgraded variant of the proven BvS10 articulated all-terrain vehicle with adaptations tailored specifically for India's terrain and climate, including high altitude, desert, marshland, and amphibious environments. The upgraded vehicle successfully competed in and flawlessly completed a series of demanding trials demonstrating exceptional performance in both sea-level environments and high-altitude regions. The BvS10 Sindhu programme will deliver enhanced operational, strategic and tactical mobility to the Indian Army's diverse deployment scenarios while also supporting India's efforts to modernise its military capability. This award highlights L&T and BAE Systems as key partners to India, providing the country with advanced mobility platforms while also reinforcing its growing industrial self-reliance in defence manufacturing, increasing resilience and security of supply.Powered by Capital Market - Live

Larsen & Toubro announced that MSCI ESG Ratings has upgraded the Company's rating from 'BBB' to 'A'. Powered by Capital Market - Live