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L&T rises after order win

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Larsen & Toubro was up 0.83% to Rs 1552.75 at 09:37 IST on the BSE after the company announced that it won a power project order from SJVN Thermal in Bihar.

The announcement was made during market hours today, 24 June 2019.

Meanwhile, the S&P BSE Sensex was up by 35.26 points, or 0.09% to 39,229.75.

On the BSE, shares were traded in the counter so far compared with average daily volumes of 1.71 lakh shares in the past two weeks. The stock had hit a high of Rs 1561.45and a low of Rs 1542.50 so far during the day. It hit a 52-week high of Rs 1606.70 on 28 May 2019 and a 52-week low of Rs 1183.40 on 23 October 2018.

Larsen & Toubro (L&T) announced that its power business arm has bagged a mega engineering, procurement and construction (EPC) order from SJVN Thermal to set up a 2x660 MW ultra-super critical power plant in Bihar. The order falls under "mega" category the range for which is greater than 7000 crore as per its classification of contracts.

On a consolidated basis, Larsen & Toubro's net profit rose 7.9% to Rs 3418.24 crore on a 10.5% rise in the net sales to Rs 44933.96 crore in Q4 March 2019 over Q4 March 2018.

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

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, June 24 2019. 09:47 IST