L&T climbs higher as its arm secures orders worth Rs 3057 crore

01 Jul 2013

L&T is currently trading at Rs. 1440.70, up by 36.55 points or 2.60% from its previous closing of Rs. 1404.15 on the BSE.

The scrip opened at Rs. 1407.00 and has touched a high and low of Rs. 1444.90 and Rs. 1405.00 respectively. So far 91,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1719.50 on 29-Oct-2012 and a 52 week low of Rs. 1308.00 on 27-Jul-2012.

Last one week high and low of the scrip stood at Rs. 1406.80 and Rs. 1336.10 respectively. The current market cap of the company is Rs. 88,721 crore.

The Institutions and Non-Institutions held 52.86% and 43.55% respectively.

Larsen & Toubro (L&T) subsidiary L&T Construction has secured new orders worth Rs 3057 crore across various business segments in June 2013. The company’s Building and Factories Business has secured orders worth Rs 1808 crore for the construction of an office space, residential building and a hospital from customers across the country.

The Water and Renewable Energy Business has bagged orders worth Rs 628 crore. A major order is from the Water Resource Department, Jharkhand for construction of the Kharkai barrage with gates and allied works including civil, mechanical, and electrical systems. Another turnkey order is from West Bengal Power Development Corporation Limited for supply of equipment, material, erection and services for plant water systems of the Sagardighi Thermal Power extension project units 3 Et 4 (2x500MW). The Company also received orders for various utility development works at Gurgaon from a private developer, including an additional order on operating projects.

In the Power Transmission and Distribution Business, orders worth Rs 442 crore have been received from the Delhi Metro Rail Corporation for design verification, detailed engineering, manufacture, supply, installation, testing and commissioning of electrical and mechanical system including fire and hydraulic system for underground stations of Delhi Mass Rapid Transport System project phase-3. Additional orders have also been received in domestic and international markets of ongoing projects.

New orders worth Rs 179 crore have been secured in Heavy Civil infrastructure and Metallurgical and Material Handling Businesses from various ongoing projects.

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