L&T moves up on beginning constructing 300 MW Jeddah Solar PV Power Plant

Larsen & Toubro is currently trading at Rs. 1358.95, up by 13.85 points or 1.03% from its previous closing of Rs. 1345.10 on the BSE.

The scrip opened at Rs. 1345.10 and has touched a high and low of Rs. 1376.00 and Rs. 1345.10 respectively. So far 41069 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1593.00 on 02-Feb-2021 and a 52 week low of Rs. 791.55 on 19-May-2020.

Last one week high and low of the scrip stood at Rs. 1434.10 and Rs. 1332.20 respectively. The current market cap of the company is Rs. 190963.34 crore.

The Institutions and Non-Institutions holding in the company stood at 54.91% and 45.09% respectively.

Larsen & Toubro’s (L&T) Power Transmission & Distribution Business has secured the go-ahead to begin constructing the 300 MW Jeddah Solar PV Power Plant. The turnkey EPC order has been received from the consortium of Masdar, EDF Renewables and Nesma Company. Awarded by Saudi Arabia's Renewable Energy Project Development Office (REPDO) to the consortium under design, finance, build and operate mode, the project has now attained financial closure after the signing of the power purchases agreement and thereby the notice o Larsen & Toubro to proceed with the construction.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.