L&T stock rises 1% on order wins for various businesses

The company's water and effluent treatment segment bagged an EPC order from the Delhi Jal Board.

Jun 10, 2019 05:06 IST India Infoline News Service

Larsen n Toubro Construction
Shares of L&T rose 1% on Monday after the construction arm of the company has secured orders from prestigious clients across various Indian states for its varied businesses.

Accordingly, the company's water and effluent treatment segment bagged an EPC order from the Delhi Jal Board.

The project is a part of the Delhi Water Supply Improvement project (DWSIP) and is funded by the Japan International Cooperation Agency (JICA).

The residential business of Buildings and Factories has secured a repeat order from a major developer in Bengaluru for the construction of a residential complex with a total built-up area of 5 million sq.ft. The factories business has secured an order from a leading cement manufacturer for the construction of a cement plant in Kurnool, Andhra Pradesh.

The business has also secured an order from a vehicle manufacturing major for the development of a manufacturing facility in Pune.

Further, an engineering, procurement and construction order has been secured from the Delhi Aviation Fuel Facility Limited (DAFFL) for the execution of fuel hydrant system development works at the Indira Gandhi International Airport at New Delhi.

Another order has been secured from the Mumbai Metro Rail Corporation Ltd (MMRCL) involving design, procurement and supply, installation, testing and commissioning of the ballastless track on the mainline from BKC station to Cuffe Parade (Package 10B - 43TKM) for Mumbai Metro Line 3 project (Colaba-Bandra-SEEPZ). This order has been secured against stiff competition from other major multi-national companies.

Larsen & Toubro Ltd is currently trading at Rs1,534, up by Rs20.75 or 1.37%, from its previous close of Rs1,513.25 on the BSE. The scrip opened at Rs1,527 and has touched a high and low of Rs1,541 and Rs1,525, respectively.

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