L&T Gains 2% After Bagging Contracts For Buildings, Factories Business

Shares of L&T werelast trading 1.49per cent higher at Rs 1,854 apieceon the BSE.

Shares of infrastructure conglomerate Larsen & Toubro (L&T) gained around two per cent on Wednesday, December 22, after the company bagged ‘significant’ orders in the range of Rs 1,000 – Rs 2,500 crore for its buildings and factories business. On Wednesday, L&T opened on the BSE at Rs 1,839, registering an intra day high of Rs 1,861 and an intra day low of Rs 1,830.55, in the trading session so far.

The construction arm of Larsen & Toubro has secured a significant order for its buildings and factories business from a leading developer, according to a regulatory filing by L&T to the stock exchanges today. The residential business of buildings and factories has secured this order to construct one of the largest residential townships in Bengaluru.

The project involves the construction of 6,768 apartments spread across 39 towers with two basements, and the ground floor, along with 27 to 31 floors. Additionally, the development entails 149 villas along with clubhouses, swimming pools, and other structures. The total built-up area will be 13.43 million square feet and the project is scheduled to be completed in 42 months.

The scope of works includes the design and construction of the entire civil structure including waterproofing, masonry, plastering, and electrical conducting, as per the statement. 

On the NSE, L&T opened at Rs 1,827.55, touching an intra day high of Rs 1,861.95 and an intra day low of Rs 1,827.55, in the session so far. It was last trading 1.32 per cent higher at Rs 1,851.75 on the NSE.

At 1:51 pm, shares of L&T were trading 1.49 per cent higher at Rs 1,854 apiece on the BSE.