Larsen & Toubro rose 1.16% to Rs 1,384.95 at 10:31 IST on BSE after the company said its construction arm has won orders worth Rs 2654 crore across various business segments.
The announcement was made during market hours today, 3 September 2018.Meanwhile, the S&P BSE Sensex was up 111.83 points, or 0.29% to 38,756.90.
On the BSE, 72,000 shares were traded in the counter so far compared with average daily volumes of 3.79 lakh shares in the past two weeks. The stock had hit a high of Rs 1,389 and a low of Rs 1,374.05 so far during the day. The stock hit a 52-week high of Rs 1,469.60 on 1 February 2018. The stock hit a 52-week low of Rs 1,116.45 on 6 September 2017.
Larsen & Toubro (L&T) said that the transportation infrastructure business has bagged a new order worth Rs 2095 crore from Maharashtra State Road Development Corporation (MSRDC), for the construction of package 10 of the six-lane Nagpur Mumbai Super Communication Expressway (District Aurangabad: From Village Fatiwabad to Village Surala) in the state of Maharashtra.
Further, the heavy civil infrastructure business has bagged an order worth Rs 559 crore from Maharashtra State Road Development Corporation (MSRDC) for construction of the Thane Creek Bridge-III. The project involves construction of a 1.837 Km dual bridge across the Thane Creek Channel connecting Mumbai and Navi Mumbai.
On a consolidated basis, net profit of Larsen & Toubro rose 43.15% to Rs 1472 crore on 18.78% rise in net sales to Rs 28283.45 crore in Q1 June 2018 over Q1 June 2017.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue. L&T Construction is a brand of Larsen & Toubro.
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