L&T gains on new order win

L&T rose 0.6% to Rs 1,598.55 at 11:51 IST on BSE after the company won a turnkey order for setting up a supercritical thermal power project valued at Rs 5100 crore.

Meanwhile, the BSE Sensex was down 100.62 points or 0.37% at 26,985.31

On BSE, so far 73,796 shares were traded in the counter, compared with an average volume of 2.12 lakh shares in the past one quarter.

The stock hit a high of Rs 1,620.90 and a low of Rs 1,583 o far during the day. The stock hit a record high of Rs 1,774.70 on 9 June 2014. The stock hit a 52-week low of Rs 687.60 on 4 September 2013.

The stock had outperformed the market over the past one month till 4 September 2014, rising 6.39% compared with 5.3% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, falling 5.02% as against Sensex's 9.19% rise.

India's largest engineering and construction company by sales has an equity capital of Rs 185.65 crore. Face value per share is Rs 2.

L&T said during market hours today, 5 September 2014 that the company has won a turnkey order for setting up a supercritical thermal power project valued at Rs 5100 crore. The order has been won on a complete engineering, procurement & construction (EPC) basis from Madhya Pradesh state utility MP Power Generating Company (MPPGCL). L&T said that this is a repeat order from MPPGCL. The project demands stringent completion schedule of 43/47 months (unit wise), the company said.

The order covers design, engineering, manufacture, supply, erection and commissioning of two coal-fired thermal units of 660 megawatt each with supercritical parameters. The project is located near village Dongalia in the Khandwa district of Madhya Pradesh.

L&T during market hours on Wednesday, 3 September 2014 said that the company's construction division recently commissioned the world's largest solar photovoltaic plant of 7.52 MWp on a single roof at Amritsar in Punjab.

L&T's consolidated net profit rose 110.8% to Rs 966.89 crore on 11.4% rise in total income to Rs 19501.07 crore in Q1 June 2014 over Q1 June 2013.

L&T is a major Indian multinational in technology, engineering, construction, manufacturing and financial services, with global operations.

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