L&T gains as its arm bags orders worth Rs 1178 crore across various business

23 Dec 2015

Larsen & Toubro is currently trading at Rs. 1290.55, up by 10.55 points or 0.82% from its previous closing of Rs. 1280.00 on the BSE.

The scrip opened at Rs. 1286.10 and has touched a high and low of Rs. 1294.85 and Rs. 1284.00 respectively. So far 56743 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. 1265.50 on 15-Dec-2015.

Last one week high and low of the scrip stood at Rs. 1308.45 and Rs. 1276.00 respectively. The current market cap of the company is Rs. 119889.24 crore.

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

Larsen & Toubro’s (L&T) subsidiary -- L&T Construction -- has won orders worth Rs 1178 crores across various Businesses in December 2015. Under Metallurgical & Material Handling Business, the company has secured orders worth Rs 663 crore. The company’s subsidiary -- Larsen & Toubro (Oman) LLC has won an EPC order worth $ 63.58 Million from Oman Oil Refineries and Petroleum Industrial Company (ORPIC) for a Pet Coke Handling and Storage project. The scope covers design, engineering, procurement, supply, construction, erection, installation and commissioning of the Pet Coke Handling and Storage facility at Sohar, Oman.

The business has also secured an EPC order from the world’s largest integrated producer of Zinc for the construction of a 1.5 MTPA Lead - Zinc Ore Beneficiation Plant at the Sindesar Khurd mines in Rajasthan. The scope includes design, engineering, procurement, construction, erection, installation and commissioning of the beneficiation plant.

Under Power Transmission & Distribution Business, the company has won orders worth Rs 515 crore in both the international and domestic markets. In the international market, Larsen & Toubro Saudi Arabia LLC, a fully owned subsidiary of L&T, has bagged an order valued at SAR 212.26 Million (USD 56.6 Million) for the construction of two 115 kV Substations at the Dammam area from National Grid, Saudi Arabia - a subsidiary of Saudi Electricity Company.

The scope involves detailed design, engineering, installation, testing and commissioning of 115 kV gas insulated switchgear, 115/13.8 kV, 50/67 MVA power transformers, 13.8 kV switchgear, control and protection systems, substation automation systems, HVAC, Novec firefighting systems with associated auxiliary systems and other civil works. These projects are in the eastern province of Saudi Arabia and are scheduled to be completed in 22 months.

In the domestic market, the solar business has bagged 25 MWp of solar capacity on EPC basis from a reputed solar developer. This capacity addition shall be developed in the southern part of India where the solar industry is an area of focus.

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