L&T climbs 21% in eight days

Larsen & Toubro (L&T) advanced 2.60% to Rs 935.75, extending gains for eight consecutive day.

Shares of the construction major have risen 20.84% in eight session from its recent closing low of Rs 774.35 recorded on 1 April 2020.

Meanwhile, L&T announced in early trade today (17 April) that the buildings & factories business of L&T Construction has secured 'significant' orders from prestigious clients in India.

The factories arm of the buildings & factories business has secured a design and build order from a cement manufacturer to execute and commission a 9,500 TPD cement plant at Ametha, Katni, Madhya Pradesh.

 

The residential arm has won an order from a developer in Bengaluru to construct a residential complex with a total built up area of 5 million sq.ft. The scope of work includes design and construction of the entire civil structure, waterproofing, masonry and plastering for 18 Towers with two basements, and ground plus 28/29 floors.

The IT & office spaces arm has secured an order from a government organisation to construct its 'Smart Data Centres' at Hyderabad and Chennai with a total built up area of 2.68 lakh sq.ft. The scope of work includes engineering, procurement, construction, commissioning, operation and maintenance for both the locations.

As per the L&T's classification, the valuation of the 'significant' order stands between Rs 1,000 crore and 2,500 crore.

On a consolidated basis, the company's net profit rose 15.2% to Rs 2352.12 crore on a 5.9% increase in net sales to Rs 36242.68 crore in Q3 December 2019 over Q3 December 2018.

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

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