L&T gains as its arm secures orders for varied businesses

Larsen & Toubro is currently trading at Rs. 1425.95, up by 2.90 points or 0.20% from its previous closing of Rs. 1423.05 on the BSE.

The scrip opened at Rs. 1422.70 and has touched a high and low of Rs. 1431.00 and Rs. 1407.50 respectively. So far 22343 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1606.70 on 28-May-2019 and a 52 week low of Rs. 1202.30 on 14-Feb-2019.

Last one week high and low of the scrip stood at Rs. 1467.85 and Rs. 1407.50 respectively. The current market cap of the company is Rs. 199371.72 crore.

The Institutions holding in the company stood at 57.26%, while Non-Institutions held 42.74 %.

Larsen & Toubro’s (L&T) construction arm has secured orders from prestigious clients across various Indian states for its varied businesses. An EPC order has been secured from the Jharkhand Urban Infrastructure Development Company (JUIDCO), for augmenting and strengthening the Dhanbad Urban Water Supply Scheme Phase II under Dhanbad Municipal Corporation. The business is also executing the Hazaribagh urban water supply scheme and the Ranchi urban water supply schemes for the same client. The business has secured add-on orders for some of its existing projects.

L&T GeoStructure Business has secured an order from State Project Management Unit, Government of West Bengal for flood protection works and embankment strengthening of Damodar river in East Bardhhaman & Hooghly districts, West Bengal, using sheet piles and Bullah piles. Another order has been secured from BPCL for construction of stone columns in Krishnapatnam, and from BHEL to construct of piles and related civil work for the 2x660 MW STPP coal and ash handling plant at Ennore.

An order has been received from CMRL for underground works at Korukkupet station, Chennai, and from IndusInd Bank to construct a diaphragm wall for a basement multi-level car park at Teynampet, Chennai.

Buildings and Factories Business has received an order for the execution of mechanical works for a cement plant at Kurnool. Additionally, the construction arm has received add-on orders for some of its existing projects across the Transportation Infrastructure (TI) and Metallurgical and Material Handling (MMH) businesses.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.