L&T up 3% on order win of Rs 3,551 crore

STOCK MARKET - Larsen & Toubro (L&T) was up 3% at Rs 1,243 on the BSE after the company announced that its construction arm has won orders worth Rs 3,551 crore across various segment. The stock had rallied 6% on Wednesday.

“The company’s transportation infrastructure & water effluent treatment business have jointly bagged an order worth Rs 1,123 crore from a prestigious government client for design and construction of smart trunk infrastructure with roads, storm water drains, water supply network, sewerage network and others,” L&T said in a press release.

The company’s transportation infrastructure business has won engineering, procurement & construction (EPC) order worth Rs 777 crore from the Public Works Department, Delhi for the construction of integrated transit corridor development plan in and around Pragati Maidan, it added.

Water & effluent treatment business has received EPC orders worth of Rs 572 crore, while building & factories business has secured an order worth of Rs 866 crore and smart world & communication business has bagged an order amounting of Rs 213 crore, the company said.

At 10:40 AM; the stock was trading at Rs 1,236, up 2.6% on the BSE, as compared to 0.31% decline in the S&P BSE Sensex. A combined 2.2 million shares changed hands on the counter on the BSE and NSE so far.