L&T gains after order win

Larsen & Toubro (L&T) rose 0.31% to Rs 1185.50 after the water & effluent treatment business of L&T Construction secured a 'significant' order from a client in the Sultanate of Oman.

The order is for the design and execution of a water infrastructure project to enhance the Al Dhakhlia Water Transmission System, Phase-II. This is a repeat order from the client and has been secured under international competitive bidding.

The scope of work includes 173 km of pipelines for water transmission with associated civil works, 18 RCC water storage reservoirs, 5 pumping stations with associated mechanical, electrical, control and instrumentation works.

L&T on Tuesday, 3 March 2020, said its power transmission & distribution business bagged 'significant' orders in India and overseas.

As per the L&T's classification, the valuation of the 'significant' order stands between Rs 1,000 and 2,500 crore.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

On a consolidated basis, the company's net profit rose 15.2% to Rs 2352.12 crore on a 5.9% increase in net sales to Rs 36242.68 crore in Q3 December 2019 over Q3 December 2018.

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