Shares of Larsen and Toubro Ltd (L&T) were trading in the green and 2% higher on Monday, 3 March, after the company announced securing ‘large’ orders in its power transmission and distribution business vertical from India and abroad. 

Larsen & Toubro categorizes orders valued between Rs 2,500 crore and Rs 5,000 crore as “large”.

The orders received are as follows:

• India: L&T secured an order to develop 765 kV and 400 kV transmission lines for a renewable energy zone in Uttar Pradesh. Additionally, it won a contract for the turnkey construction of a 400 kV transmission line to evacuate power from a non-fossil fuel-based power plant in South India.

• Saudi Arabia: The company bagged a project to set up a 380 kV gas-insulated substation, including associated reactors and hybrid gas-insulated substation bays.

• Abu Dhabi: L&T received an order to construct a new 220/330 kV grid station, along with related infrastructure work.

The company stated that these contracts were repeat orders from long-standing clients in its Power Transmission & Distribution vertical. L&T also announced that it achieved its highest-ever quarterly order intake, reaching Rs 1.16 lakh crore, marking an impressive 53% year-on-year growth at the group level.

At 3:30 pm, the shares of L&T closed 1.09% higher at Rs 3,198.20 on NSE.

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