L&T hits peak on Abu Dhabi order

DALAL STREET SPIKES

Larsen & Toubro (L&T) touched a lifetime high of Rs 1,503.7 in intra-day trades on Thursday as it extended gains after yesterday's announcement of a huge overseas order worth Rs 418 crore from the Abu Dhabi Water & Electricity Authority for the construction of six major electrical substations in the Al Ain sector.

Overall, the stock closed with a gain of only 1.15 per cent at Rs 1,493.2 on volumes of about two lakh shares. L&T has announced new orders worth Rs 6,796 crore including the Rs 5,400 crore contract from GMR-led Delhi International Airport.

Over the last one year, the stock has managed to outperform the Sensex and given a return of over 59 per cent.