L&T moves up on as its construction arm bags orders worth Rs 1,600 crore

28 Dec 2017

Larsen & Toubro is currently trading at Rs. 1261.00, up by 2.40 points or 0.19% from its previous closing of Rs. 1258.60 on the BSE.

The scrip opened at Rs. 1256.00 and has touched a high and low of Rs. 1265.00 and Rs. 1256.00 respectively. So far 9959 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1275.00 on 27-Dec-2017 and a 52 week low of Rs. 888.74 on 29-Dec-2016.

Last one week high and low of the scrip stood at Rs. 1275.00 and Rs. 1,252.40 respectively. The current market cap of the company is Rs. 176950.29 crore.

The Institutions and Non-Institutions held 57.51% and 42.49% stake in the company, respectively.

Larsen & Toubro’s (L&T) construction arm -- L&T Construction -- has bagged orders worth Rs 1,600 crore under the Power Transmission & Distribution Business. The business has secured an order from the Saudi Electricity Company for construction of 380kV Double Circuit Overhead Transmission Line between Qassim - 2 and Madina East Bulk Supply Point Substations. This is one of the longest lines in the Kingdom of Saudi Arabia, with a route length of more than 400Km.

In UAE, orders have been won for Design, Supply, Installation, Testing and Commissioning of three 132/11kV Substations and associated works, one each from Dubai Electricity & Water Authority, Shamal Development LLC and Meraas Development LLC.

Besides, in the domestic market, the business has secured a major order for EPC construction of 250MW (AC) Solar Plant in Rewa district of Madhya Pradesh. Additional orders have also been received from various ongoing jobs of the business.

Larsen & Toubro (L&T) is a major technology, engineering, construction, manufacturing and financial services conglomerate, with global operations.

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