Larsen and Toubro gains on winning orders worth of Rs 4,006 crore

The stock was up 2% at Rs 1,570 on NSE.

Larsen and Toubro (L&T) is trading higher by 2% at Rs 1,570 on NSE after the company said it has won orders worth of Rs 4,006 crore in the month of December 2014.

“The construction arm of L&T has won orders worth Rs 4,006 crore across various business segments in the month of December’14 in both the domestic and international markets”, L&T said in a statement.

The transportation infrastructure business has secured orders worth Rs 2,053 crore. The water & renewable energy businesses secured new orders worth Rs 729 crore, power transmission & distribution business secured new orders worth Rs 668 crore, heavy civil infrastructure businesses secured new orders worth Rs 228 crore and L&T Geostructure LLP won orders worth Rs 328 crore, it added.

A major order has been received from a reputed customer in Odisha for the construction of 48 km of Railway lines for the transportation of coal from coal mines for their thermal power station. Scope of work also includes building a water pipeline along the railway line.

L&T Oman LLC, a subsidiary of L&T, has received an order from Salalah Free Zone Company for the construction works of Adhan Phase 1A. The scope consists of building a potable water network, an irrigation water network, a storm water network, a sewer network, irrigation and firefighting reservoirs, pumping stations and control rooms.

The stock opened at Rs 1,545 and hit a high of Rs 1,571 on NSE after the announcements. A combined 677,591 shares changed hands on the counter till 1031 hours on NSE and BSE.