L&T gains as its construction arm secures new order for heavy civil infrastructure business
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Larsen & Toubro is currently trading at Rs. 3027.95, up by 16.10 points or 0.53% from its previous closing of Rs. 3011.85 on the BSE.
The scrip opened at Rs. 3044.15 and has touched a high and low of Rs. 3057.00 and Rs. 3026.10 respectively. So far 44659 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 3,057.00 on 29-Sep-2023 and a 52 week low of Rs. 1798.00 on 29-Sep-2022.
Last one week high and low of the scrip stood at Rs. 3050.70 and Rs. 2870.55 respectively. The current market cap of the company is Rs. 427781.07 crore.
The Institutions holding in the company stood at 63.54%, while Non-Institutions held 36.46% in the company.
Larsen & Toubro’s (L&T) construction arm -- L&T construction has secured new order for its Heavy Civil Infrastructure business from prestigious client Mumbai Metropolitan Region Development Authority (MMRDA), for the design and construction of an Underground Road tunnel Project between Orange gate, Eastern Free Way to Marine Drive Coastal Road at Mumbai.
The major scope of work for project comprises of design & construction of twin road tunnels, using Tunnel Boring Machines (TBMs), connecting these tunnels to the existing elevated Eastern Freeway at Orange Gate near its southern terminal through transition ramps and to the Marine drive at Mumbai.
The project alignment will run primarily under the Sardar Vallabhbhai Patel Road and is to be completed within 54 months. L&T has significantly enhanced its capability of building faster and reliable mass transit systems and this project is in line with its strategic goals.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
