Shares of Larsen and Toubro (L&T) surged over 3 per cent on March 10. Shares surged after the company announced that its manufacturing arm had bagged ‘critical’ orders for its various businesses. The company has got important orders worth Rs 1,000-2,500 crore.
The company has said in a stock exchange filing that the company has received an Engineering, Procurement and Construction (EPC) order from IRCON International Ltd. Under this, 25 KV overhead electrification, signaling and telecommunication works will be done for Northeast Frontier Railway.
This project is part of the Central Government’s ‘Mission Electrification’ initiative. The objective of which is to electrify the entire railway network of the country so as to reduce the carbon footprint and expenditure on diesel.
In addition, L&T’s Buildings & Factories business has bagged a good order from a global FMCG manufacturer for the design and construction of a food processing facility in Gujarat.
The company has also bagged an order for construction of a super specialty hospital in Kolkata to increase it to 250 beds on design & build basis.
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Today at 12:15 pm, the share of Larsen & Toubro was trading at Rs 1747.05 on BSE. It was trading at Rs 55.60 or 3.29 percent above its previous closing price. While the benchmark Sensex was up 1208.93 points or 2.21 per cent at 55,824.36.
The stock touched its 52-week high of Rs 2,078.20 on January 18, 2022 and its 52-week low of Rs 1,306.40 on April 19, 2021.
It is currently trading 15.84 percent below its 52-week high and 33.88 percent above its 52-week low.
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