L&T jumps as its power transmission & distribution business bags orders in Saudi Arabia
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Larsen & Toubro is currently trading at Rs. 2008.90, up by 34.25 points or 1.73% from its previous closing of Rs. 1974.65 on the BSE.
The scrip opened at Rs. 1976.00 and has touched a high and low of Rs. 2020.55 and Rs. 1976.00 respectively. So far 100560 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2078.20 on 18-Jan-2022 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. 2020.55 and Rs. 1892.60 respectively. The current market cap of the company is Rs. 282654.21 crore.
The Institutions and Non-Institutions held 62.84% and 37.17% stake in the company.
Larsen & Toubro’s (L&T) the Power Transmission & Distribution business has secured multiple EPC orders in the current quarter to build Transmission Lines and Substations in the Kingdom of Saudi Arabia.
The business will undertake engineering, design, procurement and construction of more than 400KM of 380kV Overhead Transmission Lines and a new 230kV Gas Insulated Substation with associated automation and protection systems.
The transmission network strengthening augurs well for providing reliable, safe and efficient electricity supply as Saudi Arabia is embarked on an ambitious National Renewable Energy Program towards attaining optimal generation mix as envisaged in its strategic vision for 2030.
These repeat orders from the largest electric energy system provider in MENA region demonstrate the core strengths of the business and the customer confidence it has gained over decades of its association in the Kingdom.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
