L&T shares climb over 2 pc; reach 52-week high level in intra-day trade

The stock of the engineering and construction conglomerate advanced 2.35 per cent to settle at Rs 3,097.35 apiece on the BSE. During the day, it climbed 2.90 per cent to reach its 52-week high of Rs 3,114.

New Delhi: Shares of Larsen & Toubro (L&T) climbed over 2 per cent on Thursday after the company bagged several ‘large’ projects under its various business units.

The stock of the engineering and construction conglomerate advanced 2.35 per cent to settle at Rs 3,097.35 apiece on the BSE. During the day, it climbed 2.90 per cent to reach its 52-week high of Rs 3,114.

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On the NSE, it gained 2 per cent to end at Rs 3,090 per share. In intra-day trade, it rallied 2.87 per cent to its 52-week peak of Rs 3,114.90.

The stock emerged as the biggest gainer among the 30-share BSE Sensex firms.

L&T on Thursday said its Buildings & Factories business has bagged several ‘large’ projects under its various business units.

One of the projects is for constructing a residential township in Bengaluru, L&T said in a BSE filing.

The business has also bagged orders from a renowned developer for constructing commercial towers in Hyderabad.

Besides, it has got a contract from the Indian Institute of Technology, Kanpur to construct a super specialty hospital and an academic block, the filing said.

The company classifies contracts worth Rs 2,500-5,000 crore as large orders.

Larsen & Toubro on Wednesday said its power business arm has bagged an order worth up to Rs 2,500 crore from the West Bengal Power Development Corporation Limited.

The company did not provide value of the contracts but said the orders fall under the “significant” category, which ranges between Rs 1,000 crore and Rs 2,500 crore, as per its classification of contracts