L&T shares gain as total order inflow in March quarter increases to Rs 31,814 cr so far

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Larsen & Toubro share price gained 1.5 percent intraday Tuesday after its two subsidiaries bagged orders worth Rs 5,100 crore.

"The power transmission & distribution business of L&T Construction has bagged EPC orders worth Rs 4,353 crore," the engineering and construction major said in its filing.

In Algeria, the segment has secured an order from Sonelgaz group for the turnkey construction of a 220/60 kV Air insulated substation in the city of Draa Errich while in the Middle East, an order has been won from the Oman Electricity Transmission Company SAOC for works related to adding 3rd and 4th transformers at the Airport Heights Grid Station.

In India, the Karnataka Power Transmission Corporation Limited (KPTCL) has awarded an order to establish a 400/220kV gas insulated substation at Mylasandra near Electronic City in Bengaluru
Urban district.

Under the Saubhagya scheme of the Government of India, which aims at achieving universal household electrification by providing last mile connectivity and electricity connections to all households in rural and urban areas, orders have been secured for the electrification of various districts in India, L&T said, adding additional orders have been received from ongoing power distribution jobs in India.

Meanwhile, the heavy engineering arm of Larsen & Toubro has received orders worth Rs 747 crore from Nuclear Power Corporation of India Ltd (NPCIL) to supply Steam Generators and End Shields for its indigenously designed 700MWe Pressurized Heavy Water Reactors (PHWR) to be set up at Gorakhpur Haryana Anu Vidyut Pariyojana (GHAVP) in Fatehabad district of Haryana.

Steam generator is a critical equipment of the nuclear power facility that generates steam by using heat produced in a reactor core, while End-Shield is used to prevent the direct radiation coming out from a reactor core.

With these orders, total order inflow during the last quarter of financial year increased to Rs 31,814 crore as per company's announcements available on exchanges.

At 10:49 hours IST, the stock price was quoting at Rs 1,305.00, up Rs 9.85, or 0.76 percent on the BSE.