L&T up 9% on Rs 518 cr orders

The stock touched a high of Rs 1,470, up 18%. It finally ended nearly 9% higher at Rs 1,346. The counter witnessed relatively heavy trading volumes of  3.03 million as against the two-week daily traded average of 661,051 shares.
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(Updated at 1158 hrs)

Larsen & Toubro has zoomed over 11% after bagging orders worth over Rs 500 crore.

The stock opened at Rs 1,299, up 5%. It slipped to a low of Rs 1,270 but managed to rebound and touch a high of Rs 1,384. The stock is currently trading up 11% at Rs 1,370. In the process it has increased 58% in the last month. The counter has witnessed heavy trading volumes of 1.08 million.

The company has informed the BSE that it has bagged three orders worth Rs 518.2 crore. Two of the orders are meant for execution of power transmission and development, while the third is for execution of Infrastructure works in Oman.

Further, the company has announced that it has signed a Memorandum of Understanding with US-based GE Hitachi Nuclear Energy for co-operation on BWR and ABWR nuclear power plants.