L&T soars after its construction arm secures orders for Power Transmission & Distribution Business
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Larsen & Toubro is currently trading at Rs. 2211.95, up by 21.65 points or 0.99% from its previous closing of Rs. 2190.30 on the BSE.
The scrip opened at Rs. 2190.30 and has touched a high and low of Rs. 2222.00 and Rs. 2178.20 respectively. So far 48092 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2416.00 on 02-May-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. 2259.95 and Rs. 2168.65 respectively. The current market cap of the company is Rs. 310912.69 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.
In the Kingdom of Saudi Arabia (KSA), the Business has secured two orders to establish 380kV overhead power transmission lines connecting prominent cities situated on the Red Sea coast. These systems will strengthen projects that involve 400KM of transmission lines to meet the growing demand in these industrial and tourism hubs. Another order has been secured to design, supply, and construct a 380kV substation in the central region of KSA. The substation will be a crucial element to evacuate renewable capacity as part of the Kingdom’s diversification to non-fossil fuel sources in their electricity mix.
Further, in the domestic market, the Business continued its winning streak in the Revamped Reforms Based and Results-Linked Distribution Sector (RDSS) Scheme projects with fresh orders from a prominent Gujarat DISCOM. The scope of work involves modernization and development of distribution infrastructure in three districts of Gujarat’s southern region. The projects are expected to usher in a more efficient and resilient distribution network in these districts including that in AMRUT towns.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
