L&T gains 2%, scales to an all-time high on multiple order wins

Shares of Larsen and Toubro (L&T) surged 1.7 per cent to touch a fresh lifetime high of Rs 2,725 per share on the BSE in Wednesday’s intra-day trade after its power and distribution business secured large (in the range of Rs 2,500-5,000 crore) orders in the Middle East.

So far in the calendar year 2023 (CY23), the stock of this engineering company has surged 30.6 per cent, as against 7 per cent rise in the S&P BSE Sensex.

In an exchange filing on August 23, the company said that the power and distribution business received an order to establish 220 kilovat (kV) gas insulated substation and associated transmission lines to the United Arab Emirates energy industry.