L&T shares hit a day high of Rs 3,758.10 on 7 October, still below the previous close, after the firm won new power transmission orders.

L&T Limited told exchanges that its power transmission and distribution arm has secured several large orders in India, Saudi Arabia and the UAE.

The filing came at 10:13 am. L&T put the orders in its ‘mega’ category, which covers Rs 10,000 crore to Rs 15,000 crore.

In Saudi Arabia, the work covers a 380 kV transmission segment. In the UAE, the company will build 132/11 kV substations. The Indian project is in Visakhapatnam.

Substations step electricity up or down so it can travel long distances and reach homes and factories safely.

L&T will handle the design, the supply of materials and the construction on these projects.

Grid upgrades of this kind help carry power from renewable energy plants to cities and industry. Now for some context.

As of 30 June, L&T’s order book stood at a record Rs 7.79 lakh crore, up 27% from a year earlier.

Orders received in the April to June quarter came to Rs 1.08 lakh crore, a rise of 14%.

Shareholders also got a dividend of Rs 38 per share this year, with an ex-date of 22 May. The board last met on 28 July to consider quarterly results.

At 11:18 am, it’s trading at Rs 3,741.90 on NSE, down Rs 28.10 or 0.75% from the previous close of Rs 3,770. It is down 9.63% so far this year and well below its 52-week high of Rs 4,440, with a market value of around Rs 5.15 lakh crore.

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