L&T hits 9-mth high ahead of Q2 nos; wins significant order in Saudi Arabia
Shares of Larsen & Toubro (L&T) edged 2 per cent up to hit a nine-month high of Rs 2,020.55 on the BSE in Monday’s intra-day trade after the engineering & construction company said it won significant orders for its power transmission & distribution business.
The company did not disclose the exact value of the orders. The significant value of the project is between Rs 1,000 crore to Rs 2,500 crore, as per L&T. The stock was trading at its highest level since January 20, 2022. It is trading close to its record high level of Rs 2,078, which it had hit on January 18, 2022.
Meanwhile, the board of directors of L&T is scheduled to meet today to consider and approve the unaudited financial results of the company for the quarter ended September 30, 2022 (Q2FY23).
