L&T touches 52-week high on bagging significant orders
The construction arm of L&T has secured significant orders from many of its prestigious clients for various businesses.
The company’s commercial & residential spaces arm has won an order from a reputed developer, which includes the construction of two towers comprising 4 basements, G+ 21 floors with a built-up area of 33.50 lakh square feet. It has also won an order from Haryana State Government for the construction of a medical college at Jind. The scope of the project includes the construction of hospital & residential buildings and academic blocks over a built-up area of 15.63 lakh square feet.
Besides, its railways strategic business unit has secured an engineering, procurement & construction (EPC) order from the Central Organisation for Railway Electrification (CORE), which includes electrifying 918.40 rkm/1,171.31 track km of railway lines in the North Western Railway.
The company has termed these orders as ‘significant’ as it refers to the value of the projects anywhere from Rs 1,000 to Rs 2,500 crore.
The shares of L&T touched their 52-week high of Rs 1,389.55 soon after the news made headlines today. Besides, in the second half of Thursday’s trading session, it was trading at Rs 1,379.90, up by 2.06 per cent on BSE.