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Shares of Larsen & Toubro (L&T) rose 3.6% on Friday after its construction arm secured a “large” contract for heavy civil infrastructure work from a Telangana civic body.
L&T Construction has secured an order from the Irrigation and Command Area Development Department, Telanaga, which is undertaking the Sita Rama Lift Irrigation scheme to irrigate a command area of about 9.36 lakh acres in Khammam, Kothagudem, and Mahabubabad.
The project involves construction of a 1,263 -metre long barrage, 65 radial gates with rope drum hoist arrangements, and related mechanical works, construction of 96.4 km of guide bunds and hoisting arrangements on either side of the barrage with protection arrangements across the river Godavari. As per L&T’s classification, “large” orders are typically valued between Rs 2,500 crore and Rs 5,000 crore.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. As per L&T’s classification, ‘large’ orders are typically valued between Rs 2,500 crore and Rs 5,000 crore.
Today, L&T will announce March quarter results. In the December ended quarter, the company had announced a consolidated net profit of Rs 2,352.12 crore, up 15.2 per cent on year. Net sales had risen 5.9 per cent to Rs 36,242.68 crore. L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
