L&T is in the limelight
L&T is in the limelight today morning. After closing yesterday at Rs.1298.85, the stock opened today at Rs.1300, rising to an intraday high at Rs.1301.30. This conglomerate, whose market cap stands at Rs.1,80,000 crore has a 52-week high and low at Rs.1606.70 and Rs.1202.30.
The stock price has reacted positively to the news that the Power Transmission and Distribution Business of L&T Construction has secured orders from prestigious clients in India and abroad, which is roughly pegged at Rs.2000 to 5000 crore.
In the Philippines, the business has won an order to construct a 500kV Substation, in association with a prominent local player, that will cater to the growing demand for electricity in the metropolitan area of Manila.
In the Kingdom of Saudi Arabia, orders to construct a 380kV Substation with an associated 230kV cable network and establish 380kV and 230kV Transmission Line corridors have been bagged.
Another order to construct EHV Overhead Lines has been received from a reputed customer in the Middle East.
On the domestic front, the business has won an order in Gujarat to construct a 765kV Double Circuit Transmission Line that will help transmit power from renewable energy sources.
Another order has been secured to build a 20MW floater solar power project at a reservoir of NTPC's Auraiya Gas Power Plant in Uttar Pradesh.
Additional orders have been received from ongoing substation jobs in India.