Larsen & Toubro Receives Notice To Proceed With Rs 15,000 Crore Order From NTPC
L&T share price has risen 5.71% on a year-to-date basis.
Larsen & Toubro Ltd.'s business vertical L&T Energy CarbonLite Solutions received a 'Limited Notice to Proceed' from NTPC Ltd. to establish major thermal power plants worth over Rs 15,000 crore in India.
The orders pertain to the development of the 2x800 MW Stage-II thermal power plant at Gadarwara in Madhya Pradesh, and the 3x800 MW Stage-II thermal power plant at Nabinagar in Bihar.
The scope of the project encompasses comprehensive responsibilities including design, engineering, manufacturing, and more.
L&T share price fell as much as 0.75% to Rs 3,601.60 apiece. However, the stock soon pared losses to trade 0.22% higher at Rs 3,637 apiece, as of 10:31 a.m. This compares to a 0.16% advance in the NSE Nifty 50 Index.
It has risen 5.71% on a year-to-date basis. Total traded volume so far in the day stood at 0.16 times its 30-day average. The relative strength index was at 56.74.
Out of 35 analysts tracking the company, 31 maintain a 'buy' rating, three recommend a 'hold,' and one suggests 'sell,' according to Bloomberg data.
