Larsen and Toubro gains on Rs 1,423 crore new orders

Larsen and Toubro (L&T) has moved higher by 2% to Rs 1,490 after the company said it has won new orders worth Rs 1,423 crore across various business segments in September 2014, including order from Lucknow Metro Rail Corporation.
The company’s heavy civil infrastructure business has bagged a Rs 631 crore prestigious order from the Lucknow Metro Rail Corporation Limited for the construction of the Lucknow Metro, L&T said in a statement.

L&T’s scope includes construction of the priority section (Package LKCC 01) in the North South Corridor – 8.5km elevated viaducts and 8 elevated stations. The project was won against stiff competition and is scheduled to be completed in 24 months.

The company’s power transmission & distribution business has bagged three major orders including additional orders from on-going jobs worth Rs 792 crore.

A turnkey order has been received from the Power Grid Corporation of India Limited for the supply, erection, testing and commissioning of a 765 kV S/C transmission line between Lalitpur to Agra (Part – III) in Uttar Pradesh. The contract is for the supply of 765kV EHV towers, insulator hardware materials and other transmission accessories. The order will be completed in 20 months, it added.

The stock opened at Rs 1,460 and touched a high of Rs 1,498 on NSE. A combined around 800,000 shares changed hands on the counter till noon deals on NSE and BSE.