L&T strengthens as its construction arm bags orders worth Rs 2161 crore

Larsen & Toubro is currently trading at Rs. 1469.05, up by 8.05 points or 0.55% from its previous closing of Rs. 1461.00 on the BSE.

The scrip opened at Rs. 1470.00 and has touched a high and low of Rs. 1472.50 and Rs. 1465.00 respectively. So far 30,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1886.25 on 17-Jul-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. 1495.00 and Rs. 1442.65 respectively. The current market cap of the company is Rs. 1,36,916.00 crore.

The Institutions and Non-Institutions held 54.51% and 43.43% respectively.

Larsen & Toubro’s (L&T) construction arm -- L&T Constructions has won orders worth Rs 2161 crore across its various businesses. The company’s transportation Infrastructure Business won a major design & build order worth Rs 847 crore from Dedicated Freight Corridor Corporation of India (DFCCIL). This prestigious order has been secured by the consortium of L&T and Instalaciones Inabensa, SA, Spain. The order involves electrification works for 417 km section of the Eastern DFC (Dedicated Freight Corridor) from Mughalsarai to New Bhaupur in the state of Uttar Pradesh. The scope of works includes construction of 7 Traction Sub Stations (TSS), 18 Switching Stations (SWS), 881 track km of Overhead Equipment (OHE), SCADA and electrical and mechanical works along with supply of all associated equipment. This section will be designed for 2x25 kV traction power system with overhead equipment (OHE) suitable for dedicated freight transport.

Under Water & Effluent Treatment Business, the company won EPC orders worth Rs 709 crore. An order has been bagged from Gujarat Water Infrastructure, the scope of which involves design and construction of approximately 146 km of mild steel pipelines and 26 km of ductile iron pipelines. Further, the Business has also secured an order from Rajasthan Urban Drinking Water Sewerage & Infrastructure Corporation Limited (RUDSICO) for the design, construction and commissioning of Sewage Treatment Plants (STPs) and Sewage Pumping Stations (SPS) along with sewer networks in Alwar, Sikar and Bhiwadi towns of Rajasthan. This project is funded under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) Scheme.

Furthermore, the company’s Power Transmission & Distribution Business has received order worth Rs 403 crore. An order has been received from Power Grid Corporation of India for the construction of a 400 kV double circuit transmission line package from Tumkur to Hiryur in Karnataka. Another order has been bagged from Karnataka Solar Power Development Corporation for the construction of 2.20/66 kV substations along with associated transmission line network. This project will be instrumental in power evacuation from the proposed 2000 MW Pavagada Solar Park in Tumkur district. 

Under Metallurgical and Material Handling Business, the company has received additional orders worth Rs 202 crore from various ongoing jobs of this business.