Larsen & Toubro (L&T) rose 1.84% to Rs 1000.25, resuming its uptrend after a brief pause.
The stock shed 0.85% on Friday to end at Rs 982.15. The stock has gained 9.08% in a month while the S&P BSE Sensex rose 2.35% during the same period.
L&T on Friday (14 Aug) said it is set to execute the 120 MW Lower Kopili hydro-electric project in Assam. It has classified it as a ''significant'' contract. As per the company''s classification, a ''significant'' contract ranges between Rs 1,000 crore and Rs 2,500 crore.
The heavy civil infrastructure business of L&T Construction has started mobilising resources and is all set to execute a hydro-electric project in the state of Assam for Assam Power Generation Corporation, L&T said in a statement.
The project involves engineering, procurement, construction and commissioning of project infrastructure, civil and hydromechanical works. The scope involves construction of all components of 120 MW Lower Kopili hydro-electric project, including roads, 65-metre high concrete gravity dam, power intakes, surface powerhouse and a 3.6-km long head race tunnel, it said.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
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On a consolidated level, L&T reported a 68.37% decline in net profit to Rs 536.88 crore in Q1 June 2020 from Rs 1697.62 crore in the same period last year. Revenue from operations stood at Rs 21,259.97 in Q1 FY21, declining 28.2% from Rs 29,635.95 crore in Q1 FY20.
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