L&T gains after large order win

Larsen & Toubro rose 2.69% to Rs 1,350.30 at 14:59 IST on BSE after the company announced that L&T Construction has secured orders from clients across varied states in India.

The announcement was made during market hours today, 7 March 2019.

Meanwhile, the S&P BSE Sensex was up 85.61 points, or 0.23% to 36,721.71

On the BSE, 3.21 lakh shares were traded in the counter so far compared with average daily volumes of 1.64 lakh shares in the past two weeks. The stock had hit a high of Rs 1,356.35 and a low of Rs 1,310.40 so far during the day.

Larsen & Toubro (L&T) said that Buildings and Factories business has secured a order for the construction of Campus Development of IIT Hyderabad Package 3A at Kandi, Telangana. Another order has been secured from an Indian Real Estate development company for the construction of "Asset 13 project" at Aerocity, New Delhi.

The Metallurgical and Material Handling business has secured an order from Bhel for Ash Handling Plant (AHP) to be installed at NTPC, Patratu Thermal Power Plant (3x660 MW) located in Jharkhand. L&T GeoStructure business has secured an order from CMRL for the Central Square underground space development.

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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