L&T bags various worth Rs. 2,962cr - Angel Broking

L&T's buildings and factories business has bagged new orders worth Rs. 1,555cr. This includes a major turnkey order from an information technology major for the construction of two technology centers in Bangalore. It also includes a turnkey order for infrastructure development of three government medical colleges at Cuttack, Sambalpur and Behrampur in Odisha. In the water & renewable energy business, L&T has bagged new orders worth Rs. 726cr from the Tamil Nadu Water Supply and Drainage Board. The power transmission & distribution business has bagged various orders worth Rs. 258cr which includes an order for supply, erection, testing and commissioning of a 400 kV double circuit transmission line from Transmission Corporation of Andhra Pradesh. The company has also received additional orders from various ongoing projects in metallurgical & material handling, heavy civil and transportation infrastructure businesses worth Rs. 423cr. We continue to maintain our Buy rating on the stock with a target price of Rs. 1,237.

Source : Equity Bulls

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