Larsen & Toubro shares are spiking mid-session after the company announced its Power Transmission & Distribution (PT&D) business securing major orders in the middle-east and Andhra Pradesh.
L&T won an order to to build 765kV and 400kV transmission line jobs for a Renewable Energy Zone in Andhra Pradesh.
The Mumbai-based infrastructure company also announced it received orders to execute a set of 220kV and 132kV Gas Insulated Substations on turnkey basis in the middle-east region. L&T didn’t specify the country the order pertains to.
L&T shares traded 0.2% higher ₹3,687.20 at the time of writing on Tuesday. The shares have a 52-week high of ₹3,963.50 and 52-week low of ₹2,965.30, trading at a price-to-earnings ratio of 33.74.