L&T shares trade in red despite receiving significant orders
All the orders combined; the total value can be anywhere between Rs 1,000 crore to Rs 2,500 crore.
The construction arm of Larsen and Toubro, L&T Construction has secured various orders for its businesses in India.
Metallurgical and Material Handling: The Metallurgical and Material Handling (MMH) business of the company has secured an order to set up Coke Oven, by Product and coke dry quenching plants, given its competence and capability to deliver complex plants in the steel sector. The MMH business has also secured new orders in the mining sector for its products business apart from the add-on orders from its existing customers.
Buildings and Factories: The Buildings and Factories business of L&T has won an order from a prestigious client for the construction of office space at Hyderabad with an approximate built-up area of 20 lakhs square feet. The project has been received on fast-track timelines, scheduled to be completed within 14 months.
Water and Effluent Treatment: The Water and Effluent Treatment business has bagged an order from Indian Oil Corporation Limited (IOCL) for the construction of a Demineralization Plant, ETP and allied facilities for its Refinery located in Bihar.
L&T GeoStructure: L&T GeoStructure Pvt Ltd (LTGS), a wholly-owned subsidiary of L&T, has bagged a strategic order from the Department of Water Resources, Government of Odisha, for the construction of one km long, 1000 mm thick plastic concrete cut-off wall for the Kanupur Irrigation Project at Keonjhar District, Odisha to be completed within 11 months.
All the orders combined; the total value can be anywhere between Rs 1,000 crore to Rs 2,500 crore. On Tuesday, at 11:40 am the share price of L&T was trading down by 0.68 per cent at Rs 1,704.10 on BSE.