L&T inches up after new orders

L&T rose 0.55% to Rs 1540.30 at 9:52 IST on BSE after the company said its Water & Renewable Energy Business of L&T Construction secured new orders worth Rs 1283 crore in July and August 2014.

The announcement was made before market hours today, 22 August 2014.

Meanwhile, the S&P BSE Sensex was up 95.19 points or 0.36% at 26,455.30.

On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 1.87 lakh shares in the past two weeks.

The stock hit a high of Rs 1,543.55 and a low of Rs 1,535.50 so far during the day.

L&T's Water Supply & Distribution Business along with its joint venture-partner NCC Limited, has secured a major order from Uttar Pradesh Jal Nigam for the Japan International Cooperation Agency-assisted Agra Water Supply Project - Package (5A). The total value of the order for the joint venture is Rs 745 crore, out of which L&T's share is Rs 410 crore, the company said in a statement.

In the Waste Water Business, repeat orders have been received from Greater Mohali Area Development Authority and Haryana State Industrial Infrastructure Development Corporation for construction of water and waste water infrastructure facilities at an, upcoming IT city at Mohali, Punjab and industrial estates around Rohtak, Haryana, respectively. The infrastructure facilities include waste water and water supply networks, storm water systems and associated utility works, L&T said in a statement.

The Industrial Water Systems Business has received a turnkey order from a private player for the construction of a 40 MLD common effluent treatment plant based on sequential batch reactor technology in Punjab, L&T said in a statement.

L&T's consolidated net profit jumped 110.8% to Rs 966.89 crore on 10.1% growth in net sales to Rs 18974.75 crore in Q1 June 2014 over Q1 June 2013.

L&T is a $14.3 billion technology, engineering, construction, manufacturing and financial services conglomerate, with global operations.

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