L&T rises on winning new orders worth Rs 2030 crore

29 Sep 2014

Larsen & Toubro is currently trading at Rs. 1482.00, up by 5.85 points or 0.40% from its previous closing of Rs. 1476.15 on the BSE.

The scrip opened at Rs. 1476.50 and has touched a high and low of Rs. 1483.00 and Rs. 1447.90 respectively. So far 61453 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. 777.10 on 01-Oct-2013.

Last one week high and low of the scrip stood at Rs. 1543.05 and Rs. 1435.35 respectively. The current market cap of the company is Rs. 136505.89 crore.

The institutions and non-institutions held 56.18% and 41.49% stake in the company, respectively.

Larsen & Toubro’s (L&T) Metallurgical and Material Handling (MMH) business has secured new orders worth Rs 2030 crore in the steel, port and bulk material handling sectors in the second quarter of FY14-15. L&T Metallurgical and Material Handling is a brand of L&T.

L&T’s scope includes construction and balance of plant of a coke oven battery as well as large capacity conveying system including yard machines at major ports. The contract also includes a coal handling plant at the mine heads of the Northern coal fields and the Mahanadi coal fields.

The orders are clear signs of the change in the investment climate in both Metallurgical and Bulk Material Handling Sectors where L&T continues to maintain its leadership position. The capabilities of MMH to provide technology, engineering, manufacturing and construction services coupled with the commissioning and demonstration of performance of all critical units of steel plants as well as material handling plants give it the unique status of a complete solution provider in the industry.

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