L&T shares gain nearly 3% as construction arm bags large contracts

Shares of Larsen & Toubro (L&T) Thursday gained nearly 3 per cent after the company said its construction arm has bagged large contracts from multiple clients in the domestic market.

The stock rose 2.76 per cent to close at Rs 1,351.25 on the BSE. During the day, it jumped 3.19 per cent to Rs 1,357.

On the NSE, shares went up 2.50 per cent to close at Rs 1,350.

On the traded volume front, 3.49 lakh shares were traded on the BSE and over 62 lakh units on the NSE during the day.

L&T emerged as the top performer on both the key indices during the day.

 

The engineering and construction company, however, did not provide the exact value of the contract; but as per its project classification, the value of the contracts were in large category which is in the range of Rs 2,500 crore to Rs 5,000 crore.