L&T wins significant construction orders; stock slips over 6% in six sessions

Larsen & Toubro (L&T) said its construction arm has secured orders from prestigious clients for its varied businesses in India and abroad.

The water and effluent treatment business has secured a water infrastructure order from a client in the United Arab Emirates to execute a recycled water transmission pipeline project. The business has also secured an EPC order from NMDC for the construction of a pump house for slurry & water pipeline systems.

Another order has been secured from Pune Metropolitan Region Development Authority (PMRDA) for infrastructure works for roads, drains, culverts, potable & recycle water supply systems, a sewerage system and power systems for a hi-tech township at Pune.

Further, the heavy civil business has secured an order from Konkan LNG based on open competitive bidding process. KLPL is a joint venture between GAIL India and NTPC.

As per the L&T's classification, the valuation of the 'significant' order stands between Rs 1000 and 2500 crore.

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

Currently, shares of L&T were down 0.53% at Rs 1204.20.

The stock has fallen 6.31% in six sessions from its recent closing high of Rs 1286.25 recorded on 18 February 2020.

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