Shares of Larsen & Toubro Ltd were trading in the green and 1% higher on 17 September after the company announced that its power transmission and distribution business vertical has secured ‘significant’ orders for grid infrastructure in India and abroad.

L&T considers orders in the Rs 2,500 crore to Rs 5,000 crore range as ‘big’. L&T announced the orders for Distribution SCADA and Dynamic Reactive Power Compensation equipment.

According to the business, the order in India is for overhauling electricity distribution with SCADA and integrating smart technologies in two towns. Job opportunities include distribution transformer station construction and the transfer of overhead electrical lines to underground cabling, according to the statement.

The order in the UAE is for the design, delivery, and construction of two 300MVAr STATCOM systems, which will be deployed at existing 400kV substations for dynamic reactive power compensation, L&T stated.

STATCOM responds automatically and instantly to system oscillations, and power quality improves as it injects or absorbs reactive power in real time, stabilising the voltage, according to the business.

L&T was also given another order from Oman to build a 400/132 kV grid station with a 400 kV transmission line segment.

On Tuesday, L&T formally sought to depart the Hyderabad Metro Rail project, claiming growing financial losses and a lack of support from the Telangana government.

L&T also announced two new order wins this week: a ‘ significant’ order from the Nuclear Power Corporation of India Ltd. for a project in Tamil Nadu and a ‘big’ order from the National High Speed Rail Corporation Ltd.

Around 2:30 pm on Wednesday, L&T shares were trading 0.31% higher at Rs 3,679.40 per share. The stock has risen 16.5% in the last six months.

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