L&T gains on winning multiple orders

L&T Construction has won new orders valued over Rs 1,065 crore across various business segments in September 2012

Larsen and Toubro (L&T) has moved higher by over 2% at Rs 1,401 after the company said that its construction arm L&T Construction has won new orders valued at over Rs 1,065 crore across various business segments in September 2012.
 
“In the water and effluent treatment business unit, L&T Construction has secured new orders worth Rs 793 crore. The power transmission & distribution IC has secured new orders worth Rs 122 crore from the Power Grid Corporation of India Limited,” L&T said in a filing.

L&T Construction has also secured additional orders worth Rs 150 crore from various ongoing projects across business units, it added.

 

Meanwhile, L&T Heavy Engineering has bagged order for manufacture & installation of ITER’s Cryostat for the world’s largest experimental Thermo-nuclear Fusion Reactor, coming up in Cadarache, south of France, L&T said in another regulatory filing. The company however, has not disclosed the contract size.

The stock opened at Rs 1,373 on the NSE and has seen a combined 1.16 million shares changing hands on the counter so far.