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L&T surges on securing multiple orders for power transmission & distribution business
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Larsen & Toubro is currently trading at Rs. 3460.00, up by 27.20 points or 0.79% from its previous closing of Rs. 3432.80 on the BSE.
The scrip opened at Rs. 3432.80 and has touched a high and low of Rs. 3475.80 and Rs. 3370.00 respectively. So far 80282 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 3859.65 on 02-Apr-2024 and a 52 week low of Rs. 2168.65 on 19-May-2023.
Last one week high and low of the scrip stood at Rs. 3634.10 and Rs. 3370.00 respectively. The current market cap of the company is Rs. 475779.68 crore.
The Institutions and Non-Institutions held 62.67% and 37.33%, stake in the company, respectively.
Larsen & Toubro (L&T) has won multiple orders in India and abroad for its power transmission & distribution (PT&D) business. It reflects L&T’s dominance in Clean Energy Space.
The business has bagged orders to establish two Floating Solar Plants in India. The orders comprise a cumulative floating solar capacity of more than 150 MWac, in addition to a ground-mounted Solar PV of 120 MWac capacity. Floating Solar projects involve mounting solar modules on structures that float in a water body, typically a reservoir/ lake/ abandoned quarry. Compared to ground-mounted solar plants, floating solar plants do not require land acquisition and typically involve less civil works. There are other site-specific merits too, besides reduction of water evaporation.
PT&D has also received orders to establish 765 kV Transmission Lines and a Gas Insulated Substation to integrate Solar Energy Zones in Rajasthan and Karnataka. These crucial links will enable the evacuation of Renewable Energy to load centres in various parts of the country.
Business has secured another order in the State of Kuwait to build a 400kV Gas Insulated Substation. This substation will be instrumental in powering the residential clusters being developed as part of South Sabah Al-Ahmad City project. The Sultanate of Oman is integrating its multiple standalone electricity networks into a 400 kV national grid. As part of the interconnection and grid strengthening, PT&D has received orders to build a 400 kV Overhead Transmission Line and two 400 kV Grid Stations.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
