L&T rose 1.05% to Rs 1,583.45 at 10:51 IST on BSE after the company's construction division won order worth Rs 2989 crore for the design and construction of Statue of Unity from the Government of Gujarat.
The announcement was made during market hours today, 28 October 2014.
Meanwhile, the BSE Sensex was up 70.68 points or 0.26% at 26,823.58
On BSE, so far 58,695 shares were traded in the counter, compared with an average volume of 2.06 lakh shares in the past one quarter.
The stock hit a high of Rs 1,591.40 and a low of Rs 1,577.40 so far during the day. The stock had hit a record high of Rs 1,774.70 on 9 June 2014. The stock hit a 52-week low of Rs 912.30 on 13 November 2013.
The stock had outperformed the market over the past one month till 27 October 2014, rising 6.15% compared with 0.48% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, falling 5.4% as against Sensex's 2.4% rise.
India's largest engineering and construction firm by sales has an equity capital of Rs 185.65 crore. Face value per share is Rs 2.
L&T said that the company's construction division has won an engineering, procurement and construction (EPC) order worth Rs 2989 crore for the design and construction of Statue of Unity from the Government of Gujarat. The Statue of Unity has been a dream project of Prime Minister, Mr. Narendra Modi. The 182 metres bronze statue of Sardar Vallabhbhai Patel will be built on the Sadhu-Bet island, approximately 3.5 km south of Sardar Sarovar Dam at Kevadia in the Narmada district of Gujarat. Once completed, the Statue of Unity will be the tallest in the world, L&T said.
L&T's scope will include design, engineering and construction of the statue along with an exhibition centre at its base, a memorial garden, a designer bridge connecting Sadhu Island with the mainland along the Narmada River, an internal roadway of 5 km length, improvements to the existing roads /bridges/ culverts connecting the area of Sadhu Island. It will also host an administrative complex /a management hub cum a star rated hotel (Shresta Bharat Bhavan) and a conference centre. This memorial tourist centre is scheduled to be completed within 42 months, L&T said.
L&T announces its Q2 results on 7 November 2014. The company's consolidated net profit rose 110.8% to Rs 966.89 crore on 11.4% rise in total income to Rs 19501.07 crore in Q1 June 2014 over Q1 June 2013.
L&T is a major Indian multinational in technology, engineering, construction, manufacturing and financial services, with global operations. Its products and systems are marketed in over 30 countries worldwide.
Powered by Capital Market - Live News
