L&T gains 5% on hopes of winning defence contracts worth Rs 40,000 crore

Shares of Larsen & Toubro rallied nearly 5% in an otherwise flat market following news reports that the company is hopeful of bagging some six defence contracts amounting to Rs 40,000 crore.

The stock gained as much as 4.83% to Rs 1,181 in intraday trade on the BSE. The stock was the top gainer on Semsex and Nifty.

The counter has seen huge trading activities with a combined 2.9 million shares exchanging hands on NSE and BSE so far. On an average a combined 1.3 million shares were traded daily in the past two weeks on both the exchanges. 

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