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17-May2018

L&T rises with construction arm bagging orders worth Rs 2,440 crore

Larsen & Toubro (L&T) is currently trading at Rs. 1368.25, up by 3.50 points or 0.26% from its previous closing of Rs. 1364.75 on the BSE.

The scrip opened at Rs. 1366.00 and has touched a high and low of Rs. 1375.90 and Rs. 1365.00 respectively. So far 15871 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1469.60 on 01-Feb-2018 and a 52 week low of Rs. 1,108.12 on 30-Jun-2017.

Last one week high and low of the scrip stood at Rs. 1,403.30 and Rs. 1,360.20 respectively. The current market cap of the company is Rs. 191565.77 crore.

The Institutions holding in the company stood at 58.16%, while Non-Institutions held 41.84% stake in the company.

Larsen & Toubro's  construction arm -- L&T Construction -- has bagged EPC orders worth Rs 2,440 crore through Power Transmission & Distribution business unit.

A major order is received under the Saubhagya scheme. The scope of these packages involves electrification works in urban and rural areas, augmentation of 33/11kV substations and replacement of conductors with aerial bunched cables. Besides, an order secured from the Department of Disaster Management for the construction of underground power cable network on turnkey basis in the eastern region of India.

Besides, Power Transmission & Distribution business unit also received order to build grid-connected rooftop solar plants in government buildings under the 'Alo Shree' scheme and another order for supply, erection, testing and commissioning of 400kV double circuit transmission lines on a turnkey basis in the southern region of India.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $17 billion in revenue.


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