Larsen & Toubro shoots up with news of fresh projects

Post a report by Larsen & Toubro (L&T) that its construction arm has secured orders worth Rs 1,975 crore across its various segments, the scrip shot up by over 2% intraday during Monday’s trading session. 
 
The power transmission and distribution business have bagged orders valued at Rs 1,331 crore in the domestic and international markets. The orders have been secured across the Middle East for turnkey construction of various 132/11 kV and 33/11 kV substations and 132 kV cable feeders. These primary electrical power substations and associated HV cable feeders are crucial elements in providing integrated infrastructure for spurring industrial growth.
 
In the domestic markets, a rural electrification contract has been won from Jharkhand Bijli Vitran Nigam (JBVNL) under the Deendayal Upadhyay Gram Jyoti Yojana (DDUGJY). The scope involves design, engineering, supply, erection and commissioning of 33/11 Kv substations, 33 kV, 11 kV and LT lines, BPL connections, etc. for electrification of the Deogarh district in Jharkhand.
 
Also, other business segments of L&T Construction have won orders worth Rs 644 crore. An order has been secured from a government client to construct a convention centre in Ranchi, Jharkhand. Another engineering, procurement and construction order has been bagged from Metro-Link Express for Gandhinagar and Ahmedabad (MEGA) Company Ltd. for design, supply, installation, testing and commissioning of tract works for the Ahmedabad Metro Rail Project Phase-1.
 
Meanwhile, the stock was trading up by 1.62% at Rs 1,149 per share. It attracted a total traded volume of 6,31,175 shares and traded value of Rs 7,223.23 lakhs on the NSE at 1100 hours.