Source: News Bharati English06 Jun 2016 14:21:48
New Delhi, June 6: Larsen & Toubro (L&T) said, on Monday, its construction arm has won orders worth Rs 2,161 crore across various business segments. "The construction arm of L&T has won orders worth Rs 2,161 crore across various business segments". Shares of Larsen & Toubro (L&T) gained nearly a percent intraday Monday after the company sold its general insurance business and received orders worth Rs 2,161 crore.
L&T said in its filing, "The share sale is part of company's strategy of exiting from its non-core activity." Transportation infrastructure business had won a design and build order worth Rs 847 crore from Dedicated Freight Corridor Corporation of India Ltd. Water and effluent treatment business of the company received an order worth Rs 709 crore from Gujarat Water Infrastructure and Rajasthan Urban Drinking Water Sewerage & Infrastructure Corporation.
Its power transmission and distribution business has bagged EPC orders worth Rs 403 crore from Power Grid Corporation and Karnataka Solar Power Development Corporation. The company's metallurgical and material handling business also bagged an order worth Rs 202 crore.