Larsen & Toubro inches up after its renewable arm finalises mega orders for solar plants in Middle East
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Larsen & Toubro is currently trading at Rs. 3631.00, up by 2.55 points or 0.07% from its previous closing of Rs. 3628.45 on the BSE.
The scrip opened at Rs. 3640.00 and has touched a high and low of Rs. 3645.05 and Rs. 3594.90 respectively. So far 110251 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 3948.60 on 03-Jun-2024 and a 52 week low of Rs. 2419.95 on 10-Jul-2023.
Last one week high and low of the scrip stood at Rs. 3665.55 and Rs. 3515.00 respectively. The current market cap of the company is Rs. 498258.70 crore.
The Institutions and Non-Institutions held 62.67% and 37.33%, stake in the company respectively.
Larsen & Toubro’s (L&T) Renewable arm has finalised mega orders with a leading developer in the Middle East to build two Gigawatt scale Solar PV plants. The plants will have a cumulative capacity of 3.5 GW. The scope of the orders also includes grid interconnections encompassing pooling substations and overhead transmission lines. Detailed engineering and initial construction work are expected to commence shortly.
Last month, L&T announced having won a solar-cum-storage plant order in India. Now, with the fresh mega orders from the Middle East, L&T’s renewables portfolio is poised to reach 22 GWp (Gigawatt Peak) cumulative capacity, comprising solar and wind generation projects already commissioned and those in the making.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
