L&T scales record high after new order win

L&T rose 2.09% to Rs 1,342 at 15:09 IST on BSE after the company said its construction arm has won orders worth Rs 2265 crore.

The announcement was made during market hours today, 8 January 2018.

Meanwhile, the S&P BSE Sensex was up 221.47 points, or 0.65% to 34,375.32.

On the BSE, 2.07 lakh shares were traded in the counter so far, compared with average daily volumes of 1.77 lakh shares in the past two weeks. The stock had hit a high of Rs 1,345.50 so far during the day, a record high for the stock. The stock hit a low of Rs 1,312 so far during the day. The stock hit a 52-week low of Rs 917.34 on 10 January 2017.

The large-cap company has equity capital of Rs 280.21 crore. Face value per share is Rs 2.

L&T said that the transportation infrastructure and water & effluent treatment businesses of L&T Construction have jointly bagged three EPC orders worth Rs 2265 crore from Andhra Pradesh Capital Region Development Authority (APCRDA). L&T Construction is a brand of L&T.

The scope of work includes investigation, design & construction of roads, drains, culverts, water supply, sewerage, sewerage treatment plants, utility ducts for power & ICT, reuse waterline & avenue plantation for land pooling schemes in zones - 6, 7 and 10 areas of Amaravati capital city.

The project will provide state-of-the-art infrastructure to the city of Amaravati including wide trunk roads with flexible and rigid pavements, along with multiple facilities like cycle track, sidewalks & smart street lighting, ICT etc. The package is part of the master plan to develop Amaravati into a smart city with infrastructure on par with the best in the world.

L&T's consolidated net profit surged 31.86% to Rs 2020.30 crore on 6.40% rise in net sales to Rs 26446.76 crore in Q2 September 2017 over Q2 September 2016.

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

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