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L&T shares jump after firm bags orders for power transmission, distribution business

FE Online

Shares of India’s major infrastructure giant L&T jumped on Tuesday morning, after the firm’s construction arm bagged power and transmission projects worth Rs 1,000-2,500 crore. L&T share price gained by more than 4% to hit the day’s high at Rs 1,403 on NSE.

The Power Transmission & Distribution business of L&T Construction has bagged a number of Engineering, Procurement and Construction orders in India and abroad. In Andhra Pradesh, orders have been secured for design and construction of two 400kV substations and associated transmission lines, L&T said in a stock exchange filing.

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Notably, L&T has also received an order to execute the Receiving Substations and the Extra High Voltage cables from Grid Stations for the second Phase of Bangalore Metro. Another order to execute the Power Supply System and SCADA works for Mumbai Metro Line 7 has been bagged, it further added.

Further the infra major has received another order for the design and construction of a 15MW grid connected floating solar farm to be executed as part of Visakhapatnam Smart City project. “This is among the biggest floating solar projects in India,” noted the company.

Last week, L&T said its buildings and factories business has received another order from an Indian Real Estate development company for the construction of Asset 13 project at Aerocity, New Delhi. The project consists of hotel building, office complex, international conference and business centre as well as multi-level car parking spaces, said the firm.