L&T advances after large order win

Larsen & Toubro rose 0.72% to Rs 1,316 at 09:35 IST on BSE after the company announced that L&T Construction has won a large contract for Metro Rail project Phase - 2 by Bangalore Metro Rail Corporation.

The announcement was made during market hours today, 6 March 2019.

Meanwhile, the S&P BSE Sensex was up 119.59 points, or 0.33% to 36,562.13

On the BSE, 30,000 shares were traded in the counter so far compared with average daily volumes of 1.67 lakh shares in the past two weeks. The stock had hit a high of Rs 1,326.40 and a low of Rs 1,307 so far during the day.

L&T said that Heavy Civil Infrastructure Business of L&T Construction has secured orders from Bangalore Metro Rail Corporation for the design and construction of the Phase - 2 works. The project is to be completed in 42 months.

L&T's consolidated net profit rose 37.02% to Rs 2041.62 crore on 24.22% rise in net sales to Rs 35708.87 crore in Q3 December 2018 over Q3 December 2017.

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.

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