L&T rose 1.61% to Rs 1,590.60 at 10:43 IST on BSE after the company received two engineering, procurement and construction orders valued at around $480 million for setting up dual fuel fired gas based combined cycle power plants in Bangladesh.
The announcement was made during market hours today, 28 May 2014.
Meanwhile, the BSE Sensex was up 35.95 points, or 0.15%, to 24,585.46
On BSE, so far 84,686 shares were traded in the counter, compared with an average volume of 2.67 lakh shares in the past one quarter.
The stock hit a high of Rs 1,603 and a low of Rs 1,570 so far during the day. The stock hit record high of Rs 1,622.70 on Monday, 26 May 2014. The stock hit a 52-week low of Rs 678.10 on 28 August 2013.
The stock had outperformed the market over the past one month till 27 May 2014, rising 15.88% compared with 8.2% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 42.75% as against Sensex's 16.97% rise.
The large-cap company has an equity capital of Rs 185.48 crore. Face value per share is Rs 2.
L&T said that the company received two engineering, procurement and construction orders valued at around $480 million for setting up dual fuel-fired gas based combined cycle power plants in Bangladesh. L&T's scope includes design, detailed engineering, supply, installation and commissioning of the complete power plants on a turnkey basis.
Meanwhile, L&T during market hours today, 28 May 2014 also said that L&T Construction has won new orders worth Rs 2458 crore across various business segements in May 2014.
L&T during trading hours on Tuesday, 27 May 2014 said that its subsidiary L&T Special Steels and Heavy Forgings (LTSSHF) has entered into a five-year technology transfer agreement with The Japan Steel Works (JSW) which covers transfer of critical technology for steel melting and heavy forgings made from ingots weighing 200 MT, for hydrocarbon, thermal power, steel and cement sectors.
L&T declares its year ended 31 March 2014 results on Friday, 30 May 2014. L&T's net profit rose 10.6% to Rs 1240.70 crore on 11.8% growth in net sales to Rs 14387.51 crore in Q3 December 2013 over Q3 December 2012.
L&T is a $14 billion technology, engineering, construction, manufacturing and financial services conglomerate, with global operations.
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