L&T Construction Wins Major Residential Order Valued At Rs 2903 Crore


Engineering conglomerate, Larsen & Toubro, on Tuesday, said that its construction arm L&T Construction, has bagged a major design and build order worth Rs 2903 crore. The order is for the Maharashtra Housing and Area Development Authority (MHADA), mainly to re-develop Mumbai’s century-old BDD Chawls. This contract till date is the largest contract awarded to the construction arm.

20 residential towers (3B+G+23F) for rehabilitation, one commercial development (3B+G+21F) and four high-rise towers (3B+G+72F) for sale are included in the project. Larsen & Toubro Limited on the NSE has delivered 28% returns in a period of one year, outperforming the BSE Sensex over the same time span.

Larsen & Toubro Ltd is currently trading at Rs 1555.65, up by Rs 9 or 0.58% from its previous closing of Rs 1546.65 on the BSE. The scrip opened at Rs 1547 and has touched a high and low of Rs 1558 and Rs 1547 respectively. So far 461509(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 144297.16 crore.
 
The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 1615 on 27-Jul-2016 and a 52 week low of Rs 1177 on 07-Apr-2016. Last one week high and low of the scrip stood at Rs 1565 and Rs 1520.9 respectively. The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 55.58 % and 42.37 % respectively. The stock is currently trading above its 50 DMA.

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