L&T gains as its construction arm secures orders for Power Transmission & Distribution Business
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Larsen & Toubro is currently trading at Rs. 2245.95, up by 16.05 points or 0.72% from its previous closing of Rs. 2229.90 on the BSE.
The scrip opened at Rs. 2234.95 and has touched a high and low of Rs. 2252.00 and Rs. 2220.00 respectively. So far 38241 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2329.90 on 11-Apr-2023 and a 52 week low of Rs. 1456.80 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 2253.00 and Rs. 2187.00 respectively. The current market cap of the company is Rs. 316008.62 crore.
The Institutions and Non-Institutions held 63.34% and 36.65% stake in the company respectively.
Larsen & Toubro’s (L&T) construction arm -- L&T construction has secured EPC orders in India and overseas for its Power Transmission & Distribution (PT&D) Business.
Under the umbrella of the Reforms-based Results-linked Distribution Sector Scheme (RDSS), distribution utilities in the country have taken up various modernization measures to improve operational efficiency and financial sustainability. To significantly reduce the Aggregate Technical & Commercial (AT&C) losses at pan-India level is an important objective of the scheme towards which, the discoms undertake several distribution infrastructure improvements such as segregating feeders, reconductoring, cabling, augmenting line networks and elements, geotagging of assets, etc. The Business has secured orders to develop distribution infrastructure in two discom circles of western Rajasthan.
The Business has also bagged a power supply system order for the second phase of Chennai Metro. The scope includes Design, Supply, Installation and Commissioning of Receiving Substations (RSS), Auxiliary Substations (ASS) and SCADA system for the northern sections of Corridors 3 & 5. The 110kV Gas Insulated Receiving Substations get incoming supply from the Grid and feed power supply to the traction and station requirements. 33kV Auxiliary Substations interconnected through 33kV cable system feed the auxiliary loads of metro stations such as lighting, ventilation, lifts etc. Related Control & Protection systems are also included in the scope.
Further, in the overseas market, the PT&D Business has won an order to supply, construct, test, and commission a 132kV substation in the United Arab Emirates.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
