Larsen & Toubro share price hit an all-time high of ₹2,319.65 on Monday to continue its six straight sessions gaining streak.
What Happened: Shares of the construction giant have been having a great time at the bourses this year. L&T share price has gone up over 10% year-to-date. The company has been bagging several orders this year that have helped the shares stay upbeat.
Just today the company announced bagging an order from Chambal Fertilisers and Chemicals Limited for license plus engineering, procurement, and construction of a Technical Ammonium Nitrate (TAN) plant along with Weak Nitric Acid (WNA) plant in Kota, Rajasthan. The order is won by the company’s Hydrocarbon business, which had just last week bagged multiple contracts jointly worth over ₹7,000 crore from a Middle East client.
This comes on the heels of media reports that suggest that the infrastructure major has emerged as the lowest bidder for the reconstruction of the New Delhi Railway Station. The bid is said to be over ₹8,500 crore, which is much higher than the government’s estimate of ₹5,000 crore.
Price Action: L&T share price was up 1.51% to close at ₹2,309.15 on Monday.
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