LT shares rise after construction arm bags #39;significant#39; orders for various businesses

Stocks

The stock is currently trading 15.84 percent below its 52-week high and 33.88 percent above its 52-week low.

Larsen and Toubro

Larsen and Toubro

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Larsen and Toubro (L&T) share price rose more than 3 percent intraday on March 10, after the company announced that it’s construction arm has secured ‘significant’ orders for its various businesses.

The company classifies orders worth Rs 1,000-2,500 crore as significant.

The company has secured an engineering, procurement and construction (EPC) order from IRCON International Ltd involving 25 kV Overhead Electrification, Signaling and Telecommunication, and associated works for 549 RKM/678 TKM railway lines pertaining to the Northeast Frontier Railway, it said in a stock exchange filing.

The project is part of the Union government’s ‘Mission Electrification’ initiative aimed at electrifying the country’s entire railway network to reduce carbon footprint as well as expenditure on diesel.

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Also, the L&T’s business of buildings and factories has secured a prestigious order from a global FMCG manufacturer for design and construction of a food processing facility in Gujarat, India.

The business has also secured an order to expand a super specialty hospital in Kolkata by 250 beds on design & build basis.

At 12:15pm shares of Larsen & Toubro were trading at Rs 1747.05 apiece on the BSE, up Rs 55.60 or 3.29 percent from the previous close, while the benchmark Sensex was up 1208.93 points or 2.21 percent at 55,824.36.

The share touched a 52-week high of Rs 2,078.20 and a 52-week low of Rs 1,306.40 on 18 January, 2022 and 19 April, 2021, respectively.

Currently, it is trading 15.84 percent below its 52-week high and 33.88 percent above its 52-week low.