WAYS2CAPITAL STOCK UPDATE : L&T shares gain after construction subsidiary bags orders worth Rs 2,547 cr

Larsen & Toubro shares gained nearly a percent intraday Friday after the construction subsidiary bagged orders worth Rs 2,547 crore in its power transmission & distribution segment.

On the international front, the segment has won a major order in Tanzania for the construction of a 220kV transmission line between Dar es Salaam and Morogoro, and also received two other orders in northern region of Africa for substations from reputed customers, the company said.

It has bagged another breakthrough order in Thailand for the supply and construction of a 230kV gas insulated substation while in India, it has secured EPC orders for building 132kV Substations and associated transmission lines in Jharkhand.

Another turnkey order has been secured for the construction of 220kV & 132kV transmission lines in West Bengal, the company said.

The Andhra Pradesh State FiberNet has awarded an order to establish optical fiber network infrastructure in 4 districts, under the BharatNet Phase – II works, it added.

In current month, L&T Construction also bagged orders worth Rs 3,233 crore, taking total orders to Rs 20,565 crore, so far, for the quarter ended December 2018.

The above order intake did not include subsea contract bagged by its subsidiary L&T Hydrocarbon Engineering in consortium with Baker Hughes, a GE company and McDermott International Inc, for India’s ONGC’ largest deepwater oil & gas project, the development of block DWN-98/2 in the Krishna Godavari basin.

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