L&T share rises 6% after construction arm wins orders up to Rs 2,500 crore

L&T share rose nearly 6% today after the company's construction arm secured orders for two of its businesses. Stock of L&T touched an intraday high of Rs 1,263.6, rising 5.8% on BSE. The large cap stock has gained 12.07% in the last 8 days.

Larsen & Toubro share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The share has lost 4.36% in one year and fallen 4% since the beginning of this year. However, the share has gained 17.87% in one month.  Later, the share closed 4.52% or Rs 54 higher at Rs 1248  against previous close of Rs 1,194 on BSE.

Market cap of the firm rose to  Rs 1.75 lakh crore.

Larsen & Toubro Ltd's construction arm has been awarded "significant" contracts in the range of ?1,500 crore- ?2,500 crore for its various businesses, the company stated in a regulatory filing on Monday.

The firm's building and residential business received an add-on order from a "reputed developer" for works of two wings of a tower in addition to the non-tower area works.

The business has also won a design-and-build order from a reputed client to construct a multispecialty hospital at Nagpur. The IT and office space business received an order from a reputed client for a mixed-used building at Bengaluru.

L&T Construction's power transmission and distribution business secured another package for providing Electrical and Mechanical Systems for tunnels in the Udhampur-Srinagar-Baramulla rail link project.

Meanwhile, Sensex rose 154 points to 46,253 and Nifty ended 44 points higher at 13,558. During today's early session, Sensex hit an all-time high of 46,373 and Nifty too logged a record high of 13,597.

Share Market Highlights: Sensex ends 154 points higher, Nifty at 13,558; L&T, ONGC, NTPC, Titan top gainers