L&T surges 4 per cent on bagging Rs. 4023 crore orders

Multinational conglomerate Larsen & Toubro’s share price surged on the bourses on Friday to hit its 52-week high as the the company's construction arm won orders amounting to Rs. 4,023 crore. The stock hit a high of Rs. 1,260 per share, higher by nearly 4 per cent on BSE.
 
The orders bagged by the company included heavy civil infrastructure orders worth Rs. 1,906 crore, comprising of Rs. 1,825 crore government order for its joint venture with an international company, building and factories building order worth Rs. 830 crore for the construction of a cancer hospital in Musact, Oman and an EPC order worth Rs. 788 crore in the water and effluent treatment segment. Furthermore, the company’s power transmission segment won orders worth Rs. 342 crore, while its smart world communication business won orders worth Rs. 157 crore.
 
Besides witnessing a 52-week high, the stock also recorded a spurt in volume by more than 1.01 times on Friday. The stock hit an intraday low of Rs. 1,216.55 crore in Friday’s trade. While, it had hit its 52-week low of Rs. 868.43 per share on December 23, 2016 on BSE.
 
At 1107 hours IST, the stock was trading at Rs. 1,257.85 per share, higher by 3.39 per cent on BSE. Meanwhile, S&P BSE Sensex was trading at 33,254.47 level, higher by 0.01 per cent and NSE Nifty50 was trading at 10,305.65 level, lower by 0.03 per cent on Friday.