Shares of Larsen & Toubro are trading at a record high on Wednesday. The stock has gained 30 percent on a year-to-date basis.

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On Wednesday, the company announced that its construction unit's power transmission and distribution business has won new orders in the Middle East, which they have classified as "large."

Orders which have a value between Rs 2,500 crore and Rs 5,000 crore are classified as "large" by L&T.

In a filing to stock exchanges, the engineering and construction conglomerate said that the PT&D business has received an order in the United Arab Emirates to establish a 220kV Gas Insulated Substation and associated Transmission Lines from a well-established service provider to the energy industry.

It has also received orders from a public services infrastructure company in Dubai to establish two new 132KV substations. The business has secured another order in the region to build a 220KV overhead transmission line.

In Kuwait, the L&T’s power transmission and distribution business has won an order for turnkey construction of four new 132KV substations in the Al Sabah Medical District.

The scope also includes associated Control, Protection, Automation and Communication systems and related Civil & Mechanical works.

Besides, the company has bagged additional orders in the ongoing jobs in Qatar and Saudi Arabia.

L&T on Monday had announced that the Saipem & Clough JV (SCJV), Australia awarded an order for fabrication and supply of process and pipe rack modules for a 2.3 MMTPA urea plant for Perdaman Chemicals and Fertilisers Pty Ltd to L&T Energy Hydrocarbon.

Shares of L&T are trading 1.2 percent higher at Rs 2,710.30.

First Published:Aug 23, 2023 12:05 PM IST