L&T soars as its arm wins orders valued Rs 1137 crore

Larsen & Toubro is currently trading at Rs 1411.10, up by 24.00 points or 1.73% from its previous closing of Rs 1387.10 on the BSE.

The scrip opened at Rs 1400.00 and has touched a high and low of Rs 1440.05 and Rs. 1396.50 respectively. So far 410255 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 1440.05 on 13-May-2014 and a 52 week low of Rs 678.10 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs 1394.00 and Rs 1277.10 respectively. The current market cap of the company is Rs 131042.89 crore.

The Institutions and Non-Institutions held 55.07 % and 42.25 % respectively.

Larsen & Toubro’s (L&T) subsidiary -- L&T Construction – has won new orders worth Rs 1137 crore across various business segments in April and May 2014. In Power Transmission & Distribution Business, the company has bagged new orders worth Rs 754 crore. In the international arena, fresh orders have been bagged by L&T Saudi Arabia LLC & L&T Oman LLC, the subsidiaries of Larsen & Toubro against stiff international competition. The order received in the Kingdom of Saudi Arabia from National Grid, a subsidiary of Saudi Electricity Company, includes construction of two 115/13.8 kV Substations at Dammam Industrial Estate and Al-Majeedia, Qatif. The scope involves detailed design, engineering, procurement, installation, testing and commissioning of a 115 kV Gas Insulated Switchgear, 115/13.8 kV power transformers, MV switchgears, control and protection system, substation automation system, HVAC, firefighting system with associated civil works.

The other order is for the construction of a new 106 km, 132 kV Double Circuit Transmission Line in Wadi Dawasir Area. The scope involves detailed engineering, tower foundations, supply and erection of 132 kV family of towers with associated transmission line components along with testing and commissioning of the entire circuit. The order in the Sultanate of Oman is from the Oman Electricity Transmission Company S.A.O.C for the design and construction of a new 400kV Izki Grid station near Nizwa.

This is the first 400kV Grid Station bagged by the company in the GCC. The contract encompasses supply and erection of 400kV Gas Insulated Switchgear, 500MVA transformer and control relay panels, substation control system and related civil works.

On the domestic front, the company has received an order from Vizag Transmission, a subsidiary of Power Grid Corporation of India, for building a 765 kV D/C Transmission line with associated system strengthening in Andhra Pradesh.

In the Buildings & Factories Business, the company has secured new orders worth Rs 315 crore from one of the world's leading two-wheeler manufacturers for the design and construction of test tracks and buildings for the company's upcoming innovation research development centre near Jaipur in Rajasthan.

Additional orders have also been received from various ongoing jobs. In the Water & Renewable Energy Business, the company has received an additional turnkey order from a reputed client for the construction of a 11 MW Solar photo voltaic power plant in Andhra Pradesh. The scope involves design, engineering, supply, erection, testing and commissioning.