Thursday , October 21 2021

L&T shines as its arm secures project to construct Mandarin Oriental Hotel, Muscat

Larsen & Toubro is currently trading at Rs. 1375.05, up by 17.70 points or 1.30% from its previous closing of Rs. 1357.35 on the BSE.

The scrip opened at Rs. 1361.10 and has touched a high and low of Rs. 1383.70 and Rs. 1356.80 respectively. So far 63674 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 1606.70 on 28-May-2019 and a 52 week low of Rs. 1183.40 on 23-Oct-2018.

Last one week high and low of the scrip stood at Rs. 1383.70 and Rs. 1292.75 respectively. The current market cap of the company is Rs. 193026.20 crore.

The Institutions and Non-Institutions held 57.91% and 42.09% stake respectively in the company.

Larsen & Toubro’s overseas subsidiary — L&T Oman LLC has been awarded the main works contract of The Mandarin Oriental, Muscat by Eagle Hills, Muscat. The project involves the construction of the Mandarin Oriental Hotel Muscat and the residences at the Mandarin Oriental, Muscat.

The company will oversee the overall construction within the site, which includes a 150-key hotel and 156 units of branded residences, as well as 1,622 square meters of retail areas, podium and basement. The company will also undertake the associated external works, services, and hard and soft landscaping works. The business has also secured an add-on order to construct a residential tower for a leading developer in Hyderabad.

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

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