L&T wins mega order in Bihar, stock gains

Larsen & Toubro’s (L&T) Power business has bagged a mega EPC order from SJVN Thermal. The company's shares gained around 1.3 per cent intraday. 

The engineering, procurement and construction (EPC) order from SJVN Thermal is for setting up a 2x660 MW ultra-supercritical power plant in Buxar district in the state of Bihar. The order is worth more than Rs. 7,000 crore (mega). 

The scope of work includes Design, Engineering, Manufacture, Procurement, Supply, Construction, Erection, Testing a Commissioning of Buxar Thermal Power Project (2x660 MW), on turnkey basis, covering steam generator, steam turbine generator, electrostatic precipitator, NOx control system, flue gas desulphurization (FGD) system and complete balance of plant (BoP) systems. 

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over US$18 billion in revenue. 

On Monday, the shares of L&T opened at Rs. 1,542.50 against Friday’s close of Rs. 1,540. At 11:35 hours, the stock was trading at Rs. 1,545.55, 0.36 per cent higher than the previous close. The stock gained over 1.3 per cent as its intraday high was Rs.1,561.45 and intraday low was Rs. 1,538.45 per share on the BSE. The 52-week high stood at Rs 1,606.70 and 52-week low was at Rs 1,183.40 per share on the BSE.