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L&T gains 4% as arm wins orders worth Rs 4,023 crore

ETMarkets.com|
Updated: Nov 10, 2017, 04.02 PM IST
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The company's smart world communication business also bagged Rs 157 crore orders from Raipur Smart City for implementation of intelligent traffic management services.
The company's smart world communication business also bagged Rs 157 crore orders from Raipur Smart City for implementation of intelligent traffic management services.
NEW DELHI: Shares of Larsen & Toubro climbed nearly 4 per cent on Friday after the engineering and construction major said that its construction arm has bagged orders in excess of Rs 4,000 crore.

Following the announcement, the stock rose 3.90 per cent to end the day at Rs 1,264 on BSE.

In a filing to BSE, L&T said it won orders worth Rs 4,023 crore, with the company's heavy civil infrastructure business receiving Rs 1,906 crore worth of orders that includes a Rs 1,824-crore government order received by the company's joint venture for construction of marine facilities.

Besides, the company won a Rs 830 crore order from Muscat in building and factories business, Rs 788 crore orders in water & effluent treatment business, Rs 342 crore orders in power transmission & distribution business.

The company's smart world communication business also bagged Rs 157 crore orders from Raipur Smart City for implementation of intelligent traffic management services.
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