The shares of Larsen & Toubro (L&T) rose over 1 percent to trade at Rs 3,209 apiece on March 3. This comes after the company, in an exchange filing, announced that its Power Transmission and Distribution (PT&D) vertical has won new orders worth between Rs 2,500 crore and Rs 5,000 crore in India and abroad. Larsen & Toubro classifies orders between Rs 2,500 crore and Rs 5,000 crore as 'large'.
The company has won an order to implement 765 Kv and 400 Kv transmission line segments. This would be related to a renewable energy zone in Uttar Pradesh.
Earlier, the company had secured an order for turnkey construction of a 400kV transmission line, which would serve as a medium for evacuation of power from a non-fossil fuel-based powerplant in southern India.
Larsen & Toubro, in its exchange filing, also announced that it has won an order for setting up a 380 Kv Gas Insulated Substation (GIS) in Saudi Arabia. The project also includes the setting up of associated reactors and installation of hybrid GIS Bays.
Additionally, the company has also received an order for setting up a new 220/33kV grid station and completing its associated works in Abu Dhabi, United Arab Emirates.
"These repeat orders from PT&D's longstanding customers underscore the vital role played by L&T towards setting up efficient grid infrastructure across geographies, and thereby facilitating faster proliferation of renewable energy generation," the company said in its exchange filing.
Despite recording some gains, the stock is currently hovering near its 52-week low of Rs 3,141 per share. It is significantly lower than its 52-week high of Rs 3,963 apiece. The stock's market capitalisation currently stands at Rs 4.40 lakh crore, as per data on the Bombay Stock Exchange (BSE).
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