L&T gains 3% on Rs 2,056-cr orders

Larsen and Toubro (L&T) is trading higher by 3% at Rs 1,037, extending its Monday’s 1.4% gain, after the engineering and construction major said it has bagged orders worth Rs 2,056 crore.

“The water and effluent treatment business of the company last month bagged two major orders aggregating Rs 1,262 crore from Tamil Nadu Water Supply and Drainage Board and Raipur Vikas Pradhikaran,” the company said in a filing to the stock exchanges.

In buildings and factories segment, a new order worth Rs 388 crore has been secured from a developer in Mumbai for the construction of four residential towers, while in the rail infrastructure segment orders aggregating Rs 406 crore were bagged from various clients, it added.
 
The stock opened at Rs 1,022 and hit a high of Rs 1,042 on the National Stock Exchange. A combined 792,415 shares have changed hands on the counter so far.