L&T trades higher on the bourses

Larsen & Toubro is currently trading at Rs. 800.00, up by 11.40 points or 1.45% from its previous closing of Rs. 788.60 on the BSE.

The scrip opened at Rs. 790.00 and has touched a high and low of Rs. 803.90 and Rs. 777.10 respectively. So far 215010 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1146.33 on 29-Oct-2012 and a 52 week low of Rs. 678.10 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 843.90 and Rs. 784.25 respectively. The current market cap of the company is Rs. 73701.30 crore.

The institutions and non-institutions held 53.07% and 43.78% stake in the company, respectively.

Larsen & Toubro’s (L&T) subsidiary -- L&T Construction -- has bagged new orders worth Rs 2,683 crore during September 2013 across various business segments in the domestic and international markets.

Of total, the Water and Renewable Energy Business has secured new orders worth Rs 1,334 crore from various customers. Three of the major turnkey orders received are from the Public Health Engineering Department of Rajasthan for integrated regional drinking water supply projects linking several towns and 650 villages in Barmer, Banswara and Pratapgarh districts. The scope of the contract includes supply and laying of transmission pipelines, construction of water treatment plants, clear water reservoirs and pumping stations.

Another turnkey order has been received from Bangalore Water Supply and Sewerage Board, Karnataka, for improving water distribution system in west division of Bangalore. The project aims to reduce unaccounted for water and to ensure uninterrupted 24-hour water supply to 1.5 lakh houses in Bangalore. This project, funded by the Japan International Cooperation Agency, was bagged against tough international competition. The company is currently executing another unaccounted for water reduction project in Bangalore covering 1.1 lakh houses.

In the Buildings and Factories Business, there are new orders worth Rs 1,194 crore from various customers, including a major order received for design and construction of a mega residential project in Chennai. The scope includes architectural, structural and electro-mechanical works and other associated services. Additional orders have also been received from various ongoing projects.

The Power Transmission and Distribution Business has bagged an international order worth Rs 155 crore from a reputed customer in UAE. The scope of work includes engineering, procurement and construction of power interconnection works involving construction of 220 kV and 33 kV gas insulated substations, auxiliary power supply, underground cabling and associated civil and electrical work.