Larsen and Toubro wins new orders worth Rs. 1,009cr - Angel Broking

L&T has received orders worth Rs. 1,009cr which includes Rs. 573cr order in buildings and factories business, Rs. 316cr order in transportation infrastructure business and Rs. 120cr order in power transmission and distribution business. The orders in buildings and factories business includes order for construction of a community centre in Bangalore and from a leading real estate company for construction in Lucknow, The company has also bagged additional orders from an ongoing project in Hyderabad for the work of transit oriented development. In the transportation infrastructure business, L&T has won orders from a road developer for design, engineering and construction of an elevated road between Jinzira Bazaar and Batanagar on the Budge Budge trunk road in Kolkata. The company also bagged Rs. 120cr order from Odisha Power Transmission Corporation Ltd for engineering, supply, erection and commissioning of 33/11 kV sub-stations and associated lines for the Odisha Distribution System Strengthening Project which is a part of power transmission and distribution business.

We maintain Accumulate on L&T with a target price of Rs. 1,435.

Source : Equity Bulls

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