L&T gains after construction arm wins 'significant' orders

Larsen & Toubro (L&T) rose 1.76% to Rs 1051.15 after the construction arm of company secured significant contracts for its various businesses.

The heavy civil infrastructure business secured another Regional Rapid Transit System (RRTS) Infrastructure order from the National Capital Region Transport Corporation (NCRTC) in Uttar Pradesh to execute a new, dedicated, high speed, high capacity rail project in the Delhi - Gaziabad - Meerut Corridor.

L&T's power transmission & distribution business has won a slew of orders in the international market. In Nepal, the business has won an order to design, supply, installation and commission a crucial 220kV gas insulated substation along with associated works in connected substations. In the Kingdom of Saudi Arabia, the business has received orders to establish certain transmission links in the existing 132kV network.

According to L&T's project classification, the value of the contracts lies between Rs 1,000 to 2,500 crore.

L&T is an Indian technology, engineering, construction, manufacturing and financial services conglomerate, with global operations.

On a consolidated basis, the company's net profit surged 118.43% to Rs 5520.27 crore on 12.15% decline in net sales to Rs 31034.74 crore in Q2 September 2020 over Q2 September 2019.

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