Larsen & Toubro (L&T) hit a 52-week high of Rs 1,260, up 3.5% on the BSE after the company said its construction arm has won orders worth Rs 4,023 crore across various business segments. The stock is trading close to its all-time high of Rs 1,262 touched on March 4, 2015 on the BSE in intra-day trade.
A combined 1.59 million shares changed hands on the counter on the BSE and NSE till 10:52 AM. L&T said its heavy civil infrastructure business has bagged orders cumulatively worth Rs 1,906 crore including a major government order worth Rs 1,824 crore in a joint venture with an international partner – Seaport Dredging Private Limited, for the construction of various marine facilities. Building & factories business has bagged an order worth of Rs 830 crore, while water & effluent treatment business has received engineering, procurement & construction orders worth Rs 788 crore, the company said in a press release. The company’s power transmission & distribution business has bagged orders worth of Rs 342 crore and smart world communication business has bagged order worth of Rs 157 crore, it added. Meanwhile, the board of directors of L&T will meet on Saturday, 11th November 2017 to consider and approve the unaudited financial results for the quarter and six month period ended 30th September 2017.