Wednesday , October 20 2021

L&T spurts as its construction arm secures orders across various business segments

Mumbai : Larsen & Toubro is currently trading at Rs. 1508.05, up by 8.90 points or 0.59% from its previous closing of Rs. 1499.15 on the BSE. The scrip opened at Rs. 1514.40 and has touched a high and low of Rs. 1514.40 and Rs. 1502.00 respectively. So far 27780 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. 1591.60 and Rs. 1465.00 respectively. The current market cap of the company is Rs. 211635.27 crore. The Institutions holding in the company stood at 57.83%, while Institutions and Non-Institutions held 42.17% respectively. Larsen & Toubro’s (L&T) construction arm — L&T Construction has secured orders from prestigious clients across various Indian states for its varied businesses. On the domestic front, the Power Transmission and Distribution has secured orders for urban electricity distribution from a state distribution utility.

Another order for turnkey construction of a 400kV and 220kV Transmission Lines has been secured from a state transmission utility. In the international market, an order has been secured for the supply, installation and commissioning of 132kV underground cables in United Arab Emirates (UAE). In Ethiopia and Uganda, orders have been received for establishing distribution networks involving medium/ low voltage distribution lines and last mile consumer connections. The business has also won an order, in a consortium, for the supply and construction of Battery Energy Storage Systems for 115kV substations in Chaiyaphum and Lopburi provinces of Thailand.

L&T’s defence business unit of Heavy Civil Infrastructure has secured order from one of the major Defence PSUs for the construction of a strategic project for the Indian Air Force. Further, L&T’s Water and Effluent Treatment business has secured orders from Gujarat Water Infrastructure for supplying, lowering, laying, jointing, testing and commissioning of a MS pipeline from Brahmani Dam – 2 to Chakampar village (Package II) and from Chakampar village to Nava Sadulka (Package III) including its operation Et maintenance for 5 years in Morbi district, Gujarat. The business has bagged repetitive orders from the same client over the past few years. 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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