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Larsen & Toubro Unit Wins Over ? 2,500-Crore Contracts, Shares Jump - Posted on: 19-08-2020

Larsen & Toubro (L&T) shares jumped as much as 4.67 per cent to ? 949.60 apiece on the BSE after the announcement.

Construction major Larsen & Toubro (L&T) said on Tuesday that its unit, L&T Construction, bagged contracts worth more than ? 2,500 crore. L&T Construction was awarded large contracts for its various businesses, the Mumbai-based Larsen & Toubro said in a regulatory filing. The engineering major classifies orders in the range of ? 2,500 crore-Rs 5,000 crore as large. Shares of Larsen & Toubro jumped as much as 4.67 per cent to ? 949.60 apiece on the BSE after the announcement.

L&T Construction secured an engineering, procurement and construction (EPC) contract for its transportation infrastructure business, to construct Packages 11 and 22 of the Delhi-Vadodara Expressway, the company said on Tuesday morning.

When completed, the Delhi-Vadodara Expressway will be the country's longest expressway under the National Highways Authority of India's Bharat Mala programme, it said.

The company also secured an EPC contract from the state government for the reconstruction of the four-lane Tallah road overbridge in West Bengal.

In its water and effluent treatment business, L&T Construction bagged EPC orders to implement water supply schemes for Shivhar and Parasi group of villages in Mahoba and Sonbadhra districts respectively.

The L&T subsidiary said the projects are designed to provided safe and potable drinking water to 3.78 lakh rural population in the two districts, and are part of a larger programme of the state government to provide piped drinking water to every rural household.

At 12:19 pm, the L&T stock traded 4.47 per cent higher at ? 947.80 apiece on the BSE, outperforming the benchmark S&P BSE Sensex index which was up 0.68 per cent.