Larsen & Toubro Shares Gain After Construction Arm Bags Multiple Orders

Shares of the country's largest infrastructure developer, Larsen & Toubro, surged as much as 2.87 per cent to hit an intraday high of Rs 1,637.65 after the company informed exchanges that its construction arm won 'significant' orders from its various businesses. 'Significant' orders in terms of Larsen & Toubro's order book means that the company has bagged orders in the range of Rs 1,000 crore to Rs 2,500 crore.

Larsen & Toubro's buildings and factories business secured an order to construct multi-level parking and advocate chamber for the Allahabad High Court. The project consists of 2,294 advocate chambers, 2,323 car parking spaces in a multilevel car parking and 1,552 two-wheeler parking spaces, L&T said.

Larsen & Toubro's power transmission and distribution business bagged an order for the turnkey construction of a sub-station in Saudi Arabia.

Its smart world and communication's business bagged another Smart City project. The project has was awarded by the Moradabad Smart City Limited to design, develop, implement and manage the operations and maintenance of a command-and-control centre (CCC), CCTV surveillance, smart traffic solutions, and to integrate various ICT components with an Integrated Command and Control Center Platform (ICCC) for Moradabad, Uttar Pradesh, the company said in a stock exchange filing.

As of 1:15 pm, Larsen & Toubro shares traded 1.81 per cent higher at Rs 1,667, outperforming the Sensex which was up 1 per cent.