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Indian-Commodity  :  Equity & Shares  :  L&T gains on bagging order for 'Nagpur Smart City' project

L&T gains on bagging order for 'Nagpur Smart City' project (16-Aug-2016)

Larsen & Toubro (L&T) is currently trading at Rs. 1501.50, up by 13.10 points or 0.88% from its previous closing of Rs. 1488.40 on the BSE.

The scrip opened at Rs. 1491.20 and has touched a high and low of Rs. 1508.90 and Rs. 1474.00 respectively. So far 44073 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1818.85 on 19-Aug-2015 and a 52 week low of Rs. 1016.60 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 1524.80 and Rs. 1463.35 respectively. The current market cap of the company is Rs. 139687.87 crore.

The institutions and non-institutions held 56.49% and 43.51% stake in the company, respectively.

L&T has been identified as Implementation Partner to convert Nagpur, the Orange City, into the country's first large-scale integrated Smart City as per a Letter of Intent from Maharashtra government. This is in line with the government's vision to use vanguard technology for creating smart solutions to improve quality of life of citizens.

The scope of work in Phase 1 for L&T's Smart World Communications business vertical, which is a part of L&T Construction, will cover laying of 1200 km of optical fiber network backbone, creating 136 City Wi-Fi hotspots at key locations, establishing 100 digital interactive kiosks and developing city surveillance systems with 3800 IP based cameras.

Further, as an avant-garde endeavor, the city has identified a strip of approximately 6 km (from Japanese Garden Square to Orange City Hospital Square) to be developed as a 'Smart Strip' with state-of-the-art systems powered by smart ICT interventions like smart transport, solid waste management, smart lighting, etc. which can be leveraged in a phased manner to ultimately cover the entire city.

Larsen & Toubro (L&T) is a technology, engineering, construction and manufacturing company. It is one of the largest and most respected companies in India's private sector.


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