Shares of Larsen and Toubro (L&T) were climbing on Tuesday, touching a record high, after the construction firm won two water treatment contracts in Rajasthan and Guwahati.
What Happened: L&T’s water and effluent treatment (WET) business has landed substantial contracts to boost water supply.
In Rajasthan, the firm secured an engineering, procurement and construction (EPC) deal from the public health engineering department for a water supply project in Chittorgarh District, covering 648 villages.
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What It Covers: The project covers intake structures, water treatment plants with a capacity of 175 million liters per day capacity, 1800 kilometers of pipelines, and more. The company will also handle automation and maintenance for a decade.
In Assam, L&T won a contract from the Guwahati Water Supply and Sewerage Board for the South Guwahati West Water Supply Project, which has a 107 million liters per day capacity.
This involves laying 84 kilometers of ductile iron (DI) pipelines, three kilometers of mild steel (MS) pipelines, and installing four pre-settling tanks, vital for the western part of South Guwahati.
Price Action: L&T’s share price was up 0.5% at ₹3,089.95 in afternoon trade on Tuesday.
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