L&T up 4% on securing Rs 1,002-cr orders

Larsen and Toubro (L&T) has moved higher by almost 4% to Rs 1,394 after the company said its arm has bagged new orders totalling over Rs 1,000 crore during the current month.

“The power transmission and distribution IC of L&T construction has won new orders valued over Rs 1,002 crore across various business segments in June 2012,” L&T said in a filing.

A major order worth Rs 846 crore has been bagged from West Bengal State Electricity Distribution Company Limited for Rural Electricity Infrastructure in villages of West Bengal under the Backward Region Grant Fund Scheme (BRGF).

On the international front, new orders worth of Rs 156 crore has been secured from reputed customers in Qatar for electrical network power quality improvement work including additional orders in ongoing project in Middle East.

The stock opened at Rs 1,360 and hit a three-month high of Rs 1,394 on the National Stock Exchange. A combined 1.53 million shares have changed hands on the counter till noon deals.