Larsen & Toubro gains for second straight day on winning two large orders

With the past two days' gain, L&T's stock has recovered 26 per cent from its multi-year low of Rs 661, touched on March 25, 2020

Shares of Larsen & Toubro (L&T) rose 3 per cent to Rs 832 on Wednesday, extending their previous day’s 3.5 per cent gain on the BSE, after the engineering and construction giant won two large orders from state-owned companies.

L&T today announced that L&T Hydrocarbon Engineering, a wholly owned subsidiary of the company has been awarded a large project by Indian Oil Corporation Limited (IOCL). The company said it has won a large contract from the Indian Army for setting up an advanced IT-enabled system to operate the Armed Forces network under the Network of Spectrum (NFS).

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