L&T Shares Soar on Major Dubai Airport APM Contract

Larsen & Toubro (L&T) shares climbed today, propelled by news of a significant order win for the Automated People Mover (APM) System at Dubai’s Al Maktoum International Airport. The stock traded at Rs. 4074.10, marking a 1.09% increase on the BSE.

This surge reflects investor response to the substantial contract secured by L&T’s Transportation Infrastructure business vertical, in collaboration with Japan’s Mitsubishi Heavy Industries (MHI). L&T classifies orders valued between Rs 2,500 crore and Rs 5,000 crore as “large.”

Key Market Movements

• Current Trading Price: Rs. 4074.10
• Points Up: 44.00
• Percentage Up: 1.09%
• Previous Close (BSE): Rs. 4030.10
• Opened At: Rs. 4051.00
• Intraday High: Rs. 4083.00
• Intraday Low: Rs. 4050.00
• Shares Traded: 16383

The MHI-L&T consortium will undertake the Design-and-Build contract for Phase 1 of the Al Maktoum International Airport’s APM System. This comprehensive mandate covers the turnkey delivery of a fully integrated system.

Scope of the Dubai Airport Contract

• Design and Build Contract: Encompasses design, procurement, delivery, and integration of critical APM infrastructure.
• Key Infrastructure: Includes guideways, DC traction substations, and power distribution systems.
• System Components: Signalling, telecommunications, onboard communication systems for vehicles, platform screen doors, and depot equipment.

Developed by Dubai Aviation City Corporation and implemented through Dubai Aviation Engineering Projects, this project is a crucial element of the airport’s multi-phase expansion program. The long-term vision positions Al Maktoum International as a global aviation hub.

Al Maktoum Airport’s Future Scale

• Future Capacity: 260 million passengers annually.
• Freight Handling: 12 million tonnes of freight annually.
• Global Ranking: Slated to become the world’s largest airport once fully developed.

L&T, an Indian multinational, operates across technology, engineering, construction, manufacturing, and financial services, underscoring its diverse capabilities. The company’s market capitalization currently stands at Rs. 560280.19 crore.

Additional Market Data

• BSE Group: ‘A’ stock, Face Value: Rs. 2
• 52-Week High: Rs. 4440.00 (24-Feb-2026)
• 52-Week Low: Rs. 3288.65 (23-Mar-2026)
• Last Week High: Rs. 4085.00
• Last Week Low: Rs. 4023.90
• Institutional Stake: 62.39%
• Non-Institutional Stake: 37.60%