L&T gains on winning Rs 2,410-cr new orders
Larsen and Toubro (L&T) is trading higher by 2% at Rs 1,291 bouncing back almost 3% from intra-day low after the company said its construction arm L&T Construction has bagged Rs 2,410 crore new orders across various businesses during April-June 2012.
“The Buildings and Factories IC (independent company) has secured new orders worth Rs 1,921 crore from leading developers for the construction of major residential towers," L&T said in a filing to the stock exchanges.
Its infrastructure IC has won orders to the tune of Rs 345 crore for the design and construction of viaducts and three elevated stations from Delhi Metro Rail Corporation which also includes additional orders from various ongoing projects, it added.
The stock has rallied almost 14% in past four trading days compared to 4.2% rise in the benchmark index. A combined 2.37 million shares have changed hands on the counter so far on the NSE and BSE.