Shares of Larsen & Toubro (L&T) experienced a surge of over 2% after the company secured several ‘large’ projects across various business units. The engineering and construction conglomerate’s stock reached its 52-week high during intra-day trading.
L&T’s Buildings & Factories business won significant projects, including the construction of a residential township in Bengaluru and commercial towers in Hyderabad for a renowned developer. Additionally, the company secured a contract from the Indian Institute of Technology, Kanpur, for constructing a super specialty hospital and an academic block.
While the company did not disclose the exact values of these contracts, they fall under the “significant” category, which typically ranges between Rs 1,000 crore and Rs 2,500 crore according to L&T’s classification of contracts. L&T’s power business arm also secured an order worth up to Rs 2,500 crore from the West Bengal Power Development Corporation Limited.
The positive news boosted L&T’s stock price, making it the biggest gainer among the 30-share BSE Sensex firms. The stock’s performance reflects the company’s ongoing success in securing substantial contracts across various sectors of its business.
