Larsen & Toubro gained 1.8% to Rs 1,337.65 at 10:40 IST on BSE after the company said its construction arm has won orders valued Rs 4033 crore.
The announcement was made during market hours today, 22 May 2018.On the BSE, 19,000 shares were traded in the counter so far compared with average daily volumes of 1.20 lakh shares in the past two weeks. The stock had hit a high of Rs 1,338.95 and a low of Rs 1,313 so far during the day. The stock hit a record high of Rs 1,469.60 on 1 February 2018. The stock hit a 52-week low of Rs 1,107.57 on 30 June 2017.
L&T said that the Buildings & Factories business of L&T Construction has bagged orders worth Rs 4033 crore. Buildings & Factories business has won order from a government client for the design & construction of 1,125 units of residential towers of G+3 floors under PMAY Scheme at Visakhapatnam, Prakasam, Guntur, and Krishna Districts in Andhra Pradesh, to be completed within stringent timelines.
Another order has been secured from a leading cement manufacturer for the construction of cement plants in Odisha and Andhra Pradesh on the design and build model. The business has bagged another turnkey order from a government client in Patna (Bihar) to establish a cancer institute along with the supply, installation and commissioning of medical equipment.
L&T's consolidated net profit surged 48.4% to Rs 1617.88 crore on 10.1% growth in net sales to Rs 28747.45 crore in Q3 December 2017 over Q3 December 2016.
Larsen & Toubro (L&T) is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
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