L&T wins orders but stock trades lower ahead of Q1 earnings, buyback proposal

The company will publish its June quarter results on July 25. Hours before announcing expected first-quarter earnings for fiscal year 2024, Larsen & Toubro (L&T) trades slightly lower at the start of trading on July 25, despite orders for power transmission and distribution in India and abroad.
At 10:13 a.m., Larsen & Toubro was trading at Rs 2,580.5, down Rs 24.85, or 0.95% on BSE.
Domestically, T&D has won orders to deploy SCADA/DMS and related IT infrastructure for urban electricity distribution systems in central Gujarat.
The scope also includes information storage and retrieval, user interface processing, error management, network management, coordinator training simulation, local data monitoring, and more. with the necessary security systems.
Another order has been secured for the construction of a 400 kV dual-circuit transmission line in Jharkhand. The 133 KM line is involved in the evacuation of electricity from the power plant.
In the Middle East, the company received an order to build a high voltage DC transmission segment ±525 kV (HVDC). This link is part of a high-voltage power converter (VSC) based HVDC system connecting the industrial city of Neom and the city of Yanbu in western Saudi Arabia. In the Sarawak region of Malaysia, the company has won an order within the consortium to establish a 275 kV substation.
The company will announce its June quarter results later on July 25. The company’s Board of Directors will also discuss the proposed share buyback and special stock dividend for the fiscal year 2023-2024 at today’s meeting.