L&T gains as its construction division bags multiple orders worth Rs 1832 crore

Larsen & Toubro is currently trading at Rs 1529.10, up by 11.55 points or 0.76% from its previous closing of Rs 1517.55 on the BSE.

The scrip opened at Rs 1519.70 and has touched a high and low of Rs 1530.90 and Rs 1507.65 respectively. So far 42298 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 1774.70 on 09-Jun-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 1543.80 and Rs 1458.15 respectively. The current market cap of the company is Rs 141982.47 crore.

The Institutions and Non-Institutions held 56.18% and 41.49% respectively.

L&T’s construction division, L&T Construction has won multiple orders worth Rs 1832 crore across various business segments in July and August 2014. The company’s buildings and factories business has bagged orders worth Rs 1008 crore. Out of these, a turnkey order has been received from a private developer for residential towers at Kolkata, to construct 5 towers of up to 29 floors, a club house and other amenities involving all civil, finishing, electrical, plumbing, firefighting, landscaping and allied work. Another order is for the construction of a 246 m high, 60 floor residential towers for a major residential developer in Mumbai. Also, orders have also been received from various ongoing jobs of the business.

Meanwhile, company’s Power Transmission and Distribution business has bagged orders worth Rs 624 crore. Of this, a key order has been bagged by L&T Oman LLC, a subsidiary of Larsen Et Toubro from Oman Electricity Transmission Corporation for engineering, procurement and construction of a new 400/220 kV grid substation at Misfah. The contract includes supply and erection of 400 kV Gas Insulated Switchgear, 500 MVA transformer, control relay panels, substation control systems and all associated civil work.

In Saudi Arabia, the company has received an order from an EPC major for the design, fabrication, galvanization, type-testing and supply of 380 kV level lattice type transmission line towers along with associated tower parts and accessories. The towers will be manufactured and exported from L&T's state-of-the-art manufacturing facility in Puducherry.  Additional orders worth Rs 200 crore have also been received from various ongoing jobs in the Heavy Civil Infrastructure Business.

Larsen & Toubro (L&T) is a technology, engineering, construction and manufacturing company. It is one of the largest and most respected companies in India's private sector.