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L&T rises on bagging orders

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Larsen & Toubro (L&T) gained 1.77% to Rs 1375.90 after its construction arm secured 'significant' orders from various businesses.

As per L&T's classification, the valuation of the 'significant' contract lies between Rs 1000 crore to Rs 2500 crore.

The commercial and residential spaces arm of the buildings & factories business won an order from a reputed developer to construct an office space in Mumbai. The arm has also won an order from the State Government of Haryana to construct a medical college at Jind.

The railways strategic business unit has secured an engineering, procurement and construction (EPC) order from the Central Organisation for Railway Electrification (CORE), package EPC-06 to electrify 918.40 RKM/1171.31 Track KM of railway lines in the North Western Railway.

L&T is an Indian multinational engaged in engineering, procurement and construction projects, manufacturing, defence and services with over $21 billion in revenue.

On a consolidated basis, the company's net profit surged 118.43% to Rs 5,520.27 crore on 12.15% decline in net sales to Rs 31,034.74 crore in Q2 September 2020 over Q2 September 2019. L&T will announce Q3 FY21 result on 25 January 2021.

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

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First Published: Thu, January 14 2021. 11:07 IST