L&T cements gains on power project orders

DALAL STREET SPIKES

The Larsen & Toubro scrip rose after the company announced that it has bagged a Rs 921-crore order for civil and structural work for power projects.

The counter hit a 52-week high of Rs 532.80 before closing at Rs 526.90, up by 1.88 per cent. More than 10.14 lakh shares were traded on the BSE.

The counter has been on the rise in the last few sessions as talks indicate that the market had a whiff of the company bagging the order in advance. L&T already boasts of a strong order book and has been helped by rising cement prices.

L&T has announced the bagging of a mega order from National Hydroelectric Power Corporation (NHPC) involving the civil and structural work for the latter's 2000 MW (8X250MW) Subansiri Lower Hydroelectric Project.