Larsen and Toubro bags order worth Rs. 1,127 crore

L&T has won orders worth Rs. 1,127 crore across its two business segments namely, Metallurgical & Material Handling Business and Buildings & Factories Business.

The Metallurgical and Material Handling Business has secured Rs. 755 crore from Hindustan Zinc for the construction of 1.5 MTPA Lead-Zinc Beneficiation Plant at R D Mines in Rajasthan. The Factories business unit of Buildings & Factories vertical has been granted an order for the brownfield expansion of Viscose Staple Fibre manufacturing facility from Grasim Industries (Cellulosic division) at Vilayat, Bharuch, Gujarat for civil, structural, architectural and external development works.

Larsen & Toubro Limited is a technology, engineering, construction, manufacturing and financial services company. The company's segments include Infrastructure, which is engaged in engineering and construction of building and factories. The Power segment offers solutions for thermal power plants. The Metallurgical & Material Handling, which consists of solutions for ferrous and non-ferrous metal industries. The Heavy Engineering, which manufactures and supplies custom designed, engineered critical equipment and systems.

On Monday, the shares of L&T opened higher at Rs. 1,435 per share against Friday’s close of Rs. 1,429.65. At 12:39 hours, the shares of the company were trading at Rs. 1,420, down by 0.64 per cent despite the order announcement. The intraday high was Rs. 1,438.95 and intraday low was Rs. 1,411.55 per share on the BSE. Its 52-week high was Rs. 1,469.60 and 52-week low was Rs. 1,176 per share on the BSE.

Meanwhile, the BSE Sensex was at 36,167.36 level, down by 0.07 per cent and the Nifty50 was at 10,865.75 level, down by 0.10 per cent