L&T- Shriram JV bags order worth Rs 705 crore

India Infoline News Service | Mumbai | March 27, 2017 16:05 IST

Larsen & Toubro in a joint venture with Shriram JV has bagged an order worth Rs 705 crore in Tanzania for a water project.

Larsen & Toubro in a joint venture with Shriram EPC JV has bagged an order worth Rs 705 crore in Tanzania for a water project.

According to the agreement with the Ministry of Water and Irrigation of the United Republic of Tanzania, the engineering, procurement and construction of water transmission pipeline extension will be from Lake Victoria water supply scheme to Igunga Towns,  Tabora & Nzegain Tanzania.

The project involves survey, design, procurement, construction , installation of pumping systems, etc., to provide water facilities to Tabora town and other 33 villages.

Larsen & Toubro Limited is a technology, engineering, construction, manufacturing and financial services company.  

Stock view: 

Larsen & Toubro Ltd ended at Rs 1546.65, down by Rs 4.7 or 0.3% from its previous closing of Rs 1551.35 on the BSE.

The scrip opened at Rs 1550.95 and touched a high and low of Rs 1557.4 and Rs 1536.85 respectively. A total of 1161013(NSE+BSE) shares were traded on the counter.

The current market cap of the company is Rs 144735.65 crore.

The BSE group 'A' stock of face value Rs 2 touched a 52 week high of Rs 1615 on 27-Jul-2016 and a 52 week low of Rs 1177 on 07-Apr-2016.

Last one week high and low of the scrip stood at Rs 1565 and Rs 1520.9 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 55.58 % and 42.37 % respectively.

The stock traded above its 50 DMA.


***Note: This is a NSE Chart

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