Larsen & Toubro's construction arm bags new orders; Stock down marginally

Last Updated: Tue, Nov 22, 2016 11:25 hrs
A man waits at a bus-stop with an advertisement of Larsen & Toubro outside the company's manufacturing unit in Mumbai

Larsen & Toubro Limited has announced that its construction arm L&T Construction has bagged orders worth Rs 1926 crores across various business segments.

The company's power transmission & distribution business has secured orders worth Rs 571 crores, the building & factories business has bagged orders worth Rs 514 crores, water & effluent treatment business has won orders worth Rs 397 crores, the metallurgical & material handling business has secured orders worth Rs 298 crores and its heavy civil infrastructure unit has won an order worth Rs 146 crores.

Larsen & Toubro advanced to Rs 1360 in early trades and is currently at Rs 1340, down 0.6% from Monday's closing price.

From a 52-week low of Rs 1016.50 it touched around mid-February this year, Larsen & Toubro rallied smartly to hit a high of Rs 1615 by end of September 2016, before seeing some weak spells amid overall bearish sentiment in the market.

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