L&T gains as construction arm wins 2 orders

The construction arm of Larsen & Toubro (L&T) has secured orders from clients for its varied businesses. Despite the announcement, the shares of the company were trading flat in the BSE on Friday.

On one hand, the company’s Power Transmission and Distribution Business has secured an order for Engineering, Procurement and Construction (EPC) of a 400kV overhead transmission line between the towns of Chimuara and Alto Molocue in Zambezia Province. This link is a part of the Islamic Development Bank funded Chimuara - Nacala Transmission Project.

On the other hand, the Metallurgy and Material Handling Business has received Engineering, Procurement & Construction (EPC) order from NTPC for coal sizing and transportation through high capacity long distance pipe conveyors for Kerandari, a coal mining project in a district of Jharkhand.

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

The shares of L&T on Friday opened at Rs. 1432.40 as against Thursday’s close of Rs. 1425.35. At 11:05 hours, it was trading at Rs. 1428.60, flat at 0.25 per cent up from its previous close. The stock hit an intraday high of Rs. 1449.90 and intraday low was Rs. 1420.50. Its 52-week high was Rs. 1606.70 and 52-week low was Rs. 1183.40 per share on the BSE.