L&T soars as its construction arm bags orders worth Rs 2213 crore

Larsen & Toubro is currently trading at Rs. 1110.00, up by 30.75 points or 2.85% from its previous closing of Rs. 1079.25 on the BSE.

The scrip opened at Rs. 1090.00 and has touched a high and low of Rs. 1110.00 and Rs. 1081.00 respectively. So far 57431 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. 1016.60 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 1130.00 and Rs. 1055.10 respectively. The current market cap of the company is Rs. 103021.56 crore.

The Institutions and Non-Institutions held 56.01% and 43.99% respectively.

Larsen & Toubro’s (L&T) construction arm -- L&T Constructions has won orders worth Rs 2213 crore across various businesses. Under Transportation Infrastructure Business, the company has bagged new orders worth Rs 1078 crore from the National Highways Authority of India (NHAI) for the construction of the Kerala/TamilNadu -Villikuri -Kanyakumari sections of NH-47 and NH - 47B under NHDP Phase-3 in the state of Tamil Nadu on EPC mode. The projects are scheduled to be completed in 24 months and involve cumulative construction of 69.9 Km of four lane dual carriage way with concrete pavement.

The scope also involves 64 Km bypass and realignment work, 51.7 Km of service / slip roads, one major bridge, 33 minor bridges, three railway over bridges and 23 vehicular and cattle underpasses. The order is in keeping with the momentum witnessed recently in the area of roads and bridges and a reaffirmation of L&T’s credentials in this space through its well-established capabilities in design, engineering, project execution and construction, quality and safety standards and on-time delivery.

Under Power Transmission & Distribution Business, the company has secured orders worth Rs 1001 crores across domestic and international markets. In the international market, the company has won a prestigious and strategic EPC order from Sarawak Energy in East Malaysia, of Samalaju - 2 275/132/33kV substation establishment. The substation will supply power to industrial projects and factories under development in the Samalaju SCORE area. This is the largest ever GIS substation order win in Malaysia to be given by a power utility company along with the largest GIS to be commissioned in South East Asia (43 bays). The project has a demanding and one of the fastest ever commissioning schedules -  essential parts commissioning in 15 months including construction of the GIS building and essential GIS bays. L&T was shortlisted and awarded this project after a stringent capability evaluation and on the strength of its commendable past record for fast track project execution. L&T has secured the project in an established MNC substation market.

Adding to the list of international successes, a major order has been bagged by Larsen & Toubro (Oman) LLC, a subsidiary of the company, for construction of 400kV underground cable lines and overhead lines from 400kV Sohar IPP- 3 GS to 400kV Sohar free zone (SFZ) Grid station on EPC basis from Oman Electricity Transmission Company.