Larsen & Toubro (L&T) rose 0.72% to Rs 876.95 after the buildings & factories business of L&T Construction secured significant orders from Indian clients.
The buildings & factories business of L&T Construction has won an order to design and construct an integrated resort complex project at Goa. The business has also secured an order to construct a Technology Park in Trivandrum over a total built up area of 2.3 million square feet which will be a Gold LEED certification park upon completion.As per the L&T's classification, the valuation of the 'significant' order stands between Rs 1,000 crore and 2,500 crore. The news was disclosed during market hours today, 22 April 2020.
Meanwhile, L&T on 20 April 2020 had allotted 12,500, 7.20% rated listed unsecured redeemable non-convertible debentures of Rs 10 lakh each aggregating to Rs 1250 crore which will mature on 20 April 2023. The said debentures are proposed to be listed on the National Stock Exchange of India. The interest on the said debentures would be paid on an annual basis.
On a consolidated basis, the firm's net profit rose 15.21% to Rs 2,352.12 crore on a 5.87% rise in net sales to Rs 36,242.68 crore in Q3 December 2019 over Q3 December 2018.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
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