L&T rises 2%, bags orders worth Rs. 1423 cr.

Shares of L&T rose 2 percent intraday after it received construction orders worth Rs. 1423 crore for its heavy civil infrastructure, power transmission and distribution business. Out of the total, L&T has bagged a Rs. 631 crore order from the Lucknow Metro Rail Corporation for construction of metros. As per the agreement, the infrastructure company has to construct 8.5 km elevated viaducts and 8 elevated corridors. The project is likely to be completed in two years. "The power transmission has bagged three major orders including additional orders from on-going jobs worth Rs. 792 crore. A turnkey order has been received from the Power Grid Corporation of India Limited (PGCIL) for the supply, erection, testing and commissioning of a 765 kV S/C transmission line between Lalitpur to Agra (Part�III) in Uttar Pradesh. The contract is for the supply of 765kV EHV towers, insulator hardware materials and other transmission accessories. The order will be completed in 20 months," it said in a press statement. Another order has been bagged from the Himachal Pradesh Transmission Corporation for the design, engineering, supply and construction of a 400/220/33kV Gas Insulated Switchgear substation at Lahal in the Chamba District of Himachal Pradesh. The business also received an order from the North Bihar Power Distribution Company Limited for the supply, erection, testing and commissioning of 33/11kV power distribution network. At 12:03 hrs Larsen and Toubro was quoting at Rs 1,492.55, up Rs. 25.10, or 1.71 percent on the BSE.