L&T spurts as its arm bags orders worth Rs 2048 crore

Larsen & Toubro is currently trading at Rs. 1377.10, up by 6.60 points or 0.48% from its previous closing of Rs. 1370.50 on the BSE.

The scrip opened at Rs. 1377.00 and has touched a high and low of Rs. 1380.95 and Rs. 1364.10 respectively. So far 54181 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1892.95 on 04-Mar-2015 and a 52 week low of Rs. 1367.00 on 04-Nov-2015.

Last one week high and low of the scrip stood at Rs. 1498.15 and Rs. 1364.10 respectively. The current market cap of the company is Rs. 128274.83 crore.

The Institutions and Non-Institutions held 55.28% and 42.36% respectively.

The Construction arm of Larsen a Toubro (L&T) has won orders worth aggregating Rs 2048 crore across various business verticals in October 2015. Under Power Transmission & Distribution business, the company has won orders worth Rs 758 crore in both the international and domestic markets. On the international front, L&T Saudi Arabia LLC, a fully owned subsidiary of L&T, has bagged an order against stiff competition from local players for the construction of four 132kV substations in Riyadh from National Grid, Saudi Arabia, a subsidiary of Saudi Electricity Company.

The scope involves detailed design, engineering, construction, testing and commissioning of 132 kV gas insulated switchgear, 132/13.8 kV, 50/67 MVA power transformers, 132/33 kV, 80/100 MVA power transformers, 13.8 kV switchgears, 33 kV switchgear, control and protection systems, substation automation systems, HVAC, Novec Fire Fighting System along with associated auxiliary system and civil works. These projects are In the Central Province of Saudi Arabia and will be completed in 22 months.

In the domestic market, the company has bagged an order from Power Grid Corporation of India Limited for engineering, procurement and construction of a 765kV GIS substation package at Aligarh under the Interregional System Strengthening Scheme.

Under Transportation Infrastructure business, the company has secured order worth Rs 732 crore. The order is from the National Highway Authority of India (NHAI) for the construction of a six-lane elevated corridor from Chandigadh to Kharar in the state of Punjab. This project is to be completed in 30 months and involves the construction of 10.185 km of four-lane dual carriage way along with three elevated corridors of a cumulative length of 3.37 km.

The business has also bagged an order from the Lucknow Metro Rail Corporation for the design, supply, installation, testing and commissioning of receiving cum auxiliary main cum traction sub stations including high voltage cabling from grid substation, 25Kv flexible/rigid OHE, sectioning post, 33Kv cable networks, ASS Et SCADA System including catenary maintenance vehicle/rail cum road vehicle for Lucknow MRTS phase-I.

Under Buildings & Factories business, the company has won orders worth Rs 558 crore including add-ons. An order has been received from a leading real estate developer for the construction of 13 residential towers (Stilt + 14 Floors) in Chennal. The scope involves civil and structural works. Another order has been bagged from a reputed cement producer for setting up its cement plant in Rajasthan which is an expansion of its existing 2 lines which had also been executed by L&T.