Shares of Larsen & Toubro (L&T) hit a record high of Rs 1,684.80, up 3 per cent on the BSE in intra-day trade on Monday, after the company announced L&T Construction, the construction arm of the company had bagged a slew of orders in India and abroad for its various businesses. According to L&T’s classification, the valuation of the ‘significant’ lies between Rs 1,000 crore to Rs 2,500 crore.
The stock of engineering & construction (E&C) major surpassed its previous high of Rs 1,676.70 touched on August 16, 2021. In the past week, L&T stock has outperformed the market by gaining 6.6 per cent compared to a 2 per cent rise in the S&P BSE Sensex.
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L&T’s buildings & factories business has secured an order to construct multilevel parking and advocates chamber for the Hon’ble High Court at Allahabad with an approximate built-up area of 20 lakh square feet. The power transmission & distribution business has bagged an order for the turnkey construction of a substation in Saudi Arabia. In contrast, the intelligent world & communication business has bagged yet another smart city project.
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