L&T bags orders worth Rs. 2,265 crore

EPC giant Larsen & Toubro spurred on the bourses during Monday’s trade as the company won orders worth Rs. 2,265 crore. The company has jointly bagged three EPC orders from the Andhra Pradesh Capital Region Development Authority.

The project includes road construction, construction of water supply, sewerage treatment plants, largely strengthening its presence in the Amravati Capital region of Andhra Pradesh. The company had posted an order inflow worth Rs. 551 billion in H1FY18. Its order book stood at Rs. 2,575 billion for the period, with the infrastructure segment being the foremost growth driver of the company.

The company had posted a 5.69 per cent rise in its sales in the second quarter of FY18 and an over 26 per cent rise in the consolidated profit after tax of the company to Rs. 2,131.04 crore for the corresponding period.

The company recorded a return of 41.66 per cent on the bourses during the last 1-year period and the stock is up by 4.50 per cent since January 1, 2018. On Monday, January 8, 2018, the stock surged to an intraday high of Rs. 1,335.95 per share, up by nearly 2 per cent and recorded an intraday low of Rs. 1,312 per share.