Rajeev Gupta • Mon, Dec. 15
- Larsen and Toubro has experience designing and building India's first nuclear powered submarine.
- The order win could push Larsen and Toubro into the big leagues in the global submarine market.
- It could also significantly improve the company's financial outlook and strategic position.
- It is the only private player to have significant experience in submarine building which will be a key factor while awarding the contract.
- The contract likely to be decided in December 2014 could provide a trigger for the stock.
Larsen & Toubro: Potential 50% Upside For This Infrastructure Major
- Larsen & Toubro, India’s largest infrastructure company has surged by 69.5% in 2014.
- The rally in the stock is likely to continue with government change and a positive budget being the near-term triggers.
- Valuation gap compared to peers points to a potential 47% upside over the next 24 months. Lowering of interest rates can accelerate the upside.
- Strong order inflow expected in FY15 and strong revenue guidance for FY15 will keep the stock firm.
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Jul. 29, 2013, 9:06 AM
- AECOM Technology (ACM), Siemens (SI) and Bechtel are part of a consortium that has won a $9.45B project to build two lines for a metro-system in Riyadh. Bechtel heads the group.
- In total, Saudi Arabia has handed out three contracts worth a total of $22.5B to construct six lines.
- The other winning consortia are: one that includes Spain's Fomento de Construcciones y Contratas, France's Alstom (AOMFF.PK) and South Korea's Samsung C&T Corp. (SSGFF.PK); and another that includes Italy's Ansaldo STS (ASDOF.PK), Canada's Bombardier (BDRAF.PK) and India's Larsen & Toubro (LTORY.OB).
- Design work is to start immediately, with construction set to begin in Q1 next year. The project is due for completion in 2019.
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