L&T gains after winning a large ultra-supercritical power plant order from NTPC

L&T rose 0.87% to Rs 1,733.95 at 11:35 IST on BSE after the company said it has secured over Rs 5580 crore worth turnkey order from NTPC for setting up a 1320 megawatts greenfield Ultra-Supercritical Thermal Power Plant.

Shares of NTPC rose 1.42% to Rs 149.45.

L&T made announcement during market hours today, 1 April 2015.

Meanwhile, the BSE Sensex was down 5.68 points, or 0.02%, to 27,951.81.

On BSE, so far 42,971 shares were traded in the counter, compared with an average volume of 2.42 lakh shares in the past one quarter.

The stock hit high of Rs 1,739 and low of Rs 1,718.25, so far during the day. The stock hit a record week high of Rs 1,892.95 on 4 March 2015. The stock hit a 52-week low of Rs 1,242.45 on 17 April 2014.

The stock had outperformed the market over the past one month till 31 March 2015, falling 2.71% compared with 4.78% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.87% as against Sensex's 1.67% rise.

The large-cap engineering and construction major has an equity capital of Rs 185.91 crore. Face value per share is Rs 2.

Larsen & Toubro (L&T) said it has secured a turnkey order valued over Rs 5580 crore, from NTPC for setting up a 2x660 megawatts (MW) greenfield Ultra-Supercritical Thermal Power Plant in Khargone district of Madhya Pradesh on engineering, procurement and construction (EPC) basis.

The project entails design, engineering, manufacture, supply, erection and commissioning of two coal-fired thermal units of 660 MW each with ultra supercritical parameters. This is being done for the first time in the country. The EPC project was won following international competitive bidding, involving several reputed bidders.

Significantly, this is the first EPC package order awarded to L&T by NTPC for a complete thermal power plant. Earlier, L&T, through its joint venture company L&T-MHPS Boilers had secured an order worth Rs 1885 crore from NTPC in September 2014 for setting up 2 units of 660 MW each supercritical steam generators for Tanda Thermal Power Plant stage-2 in Uttar Pradesh.

Meanwhile, L&T had said during market hours yesterday, 31 March 2015, that company was awarded a contract valued at Rs 1432 crore by the Ministry of Defence for the design and construction of seven offshore patrol vessels for the Indian Coast Guard.

Separately, L&T also during market hours yesterday, 31 March 2015, announced that its construction division has secured orders worth Rs 2101 crore across various business segments in this month.

L&T's consolidated net profit rose 8.8% to Rs 866.54 crore on 9.5% rise in total income to Rs 24082.58 crore in Q3 December 2014 over Q3 December 2013.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services, with global operations. Its products and systems are marketed in over 30 countries worldwide.

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