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L&T surges as its arm bags order worth Rs 2,935 crore in Qatar

18 Dec 2013

L&T is currently trading at Rs. 1077.00, up by 13.60 points or 1.28% from its previous closing of Rs. 1063.40 on the BSE.

The scrip opened at Rs. 1060.30 and has touched a high and low of Rs. 1081.15 and Rs. 1060.30 respectively. So far 48,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1152.40 on 09-Dec-2013 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. 1092.00 and Rs. 1044.15 respectively. The current market cap of the company is Rs. 99,765 crore.

The Institutions and Non-Institutions held 52.61% and 44.43% respectively.

L&T Construction’s - Power Transmission & Distribution Business, has secured a prestigious major international EPC (engineering, procurement, construction) order valued at Rs 2,935 crore ($473 million/1723 million QAR) from Qatar General Electricity & Water Corporation (KAHRAMAA) for the supply, construction and commissioning of 18 EHV (Extra High Voltage) substations and 151 km of EHV cabling in Qatar. The project is scheduled to be completed in 22 months.

This order is part of the Qatar Power Transmission System Expansion - Phase XI - Stage I and is the single largest order for the Company in the Power Transmission & Distribution business. The scope includes supply, erection, testing and commissioning of Gas Insulated Switchgear of 220/132/66/22kV, power transformers, 220/132/66kV EHV cables, 11kV air insulated switchgear, protection and substation systems, DC system and auxiliaries. The contract encompasses design and construction of civil buildings with a complete set of utilities such as air conditioning, fire protection and lighting systems.

These substations are being built to augment the existing power system network to cater to growing infrastructure facilities. The project is spread across prominent locations in Qatar. L&T is already executing similar EHV substations and EHV cables as part of Phase X for KAHRAMAA. The order affirms L&T’s strong operational competencies and customer goodwill in GCC countries.

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