Blitz Bureau
NEW DELHI; The share price of Larsen & Toubro was up 3 per cent to Rs 3,785 on the BSE in intra-day trade, after the company won multiple large orders to build grid elements forming backbone of clean energy transition. L&T classifies orders ranging between Rs 2,500 crore to Rs 5,000 crore as “large” orders.
The stock of civil construction major was quoting higher for the third straight day on July 29, surging 8 per cent during the period, after the compan announced its June 2024 (Q1FY25) results. L&T share price had hit a record high of Rs 3,948.60 on June 3, 2024.
L&T in an exchange filing said on July 29 that the Power Transmission & Distribution (PT&D) business segments had won new orders in India and abroad for establishing substations and transmission lines, which are crucial elements of the vast, interconnected electricity network.
“In India, PT&D has received orders to execute two 765kV Double Circuit Transmission Line packages which are associated with evacuation of power from Jaisalmer/ Barmer Renewable Energy Zone in Rajasthan to substations in Madhya Pradesh for further interconnections. In the United Arab Emirates, PT&D has secured orders to construct a 220kV Substation and three 132kV Substations. Adding these substations to the network will help the utilities keep pace with the increasing electricity demand in Dubai and Abu Dhabi,” said an L&T press release.
