L&T gains on winning Rs 722-cr fresh orders

The power transmission and distribution IC has secured orders worth of Rs 479 cr & water & solar business received orders worth of Rs 265 cr

Larsen and Toubro (L&T) has moved higher by 2% at Rs 1,187 after the company said L&T Construction has bagged new orders valued Rs 744 crore during the first quarter of 2012-13 so far.

“The power transmission and distribution IC has secured orders worth of Rs 479 crore from NMDC, Jindal Power and NTPC, while in the water and solar business, the company received orders worth of Rs 265 crore,” L&T said in a press release.

Last week, L&T said it has bagged orders totaling Rs 2,592 crore for construction of residential, commercial and factor buildings since April.

The stock opened at Rs 1,166 and hit a high of Rs 1,188 on the National Stock Exchange. A combined 1.04 million shares have changed hands on the counter so far on both the exchanges.