L&T Wins 'Significant' Contract, Shares Rise

Shares of Larsen and Toubro Ltd. gained as much as 1.9% after the company secured a significant order from Nuclear Power Corporation of India Ltd. to build natural draught cooling towers and a cooling water pump house for the Rawatbhata atomic power project 7 and 8.

The project is scheduled to be completed in 36 months.

L&T defines 'significant' contracts as those which are valued between Rs 1,000 crore and Rs 2,500 crore.

Of the 41 analysts tracking the company, 40 maintain 'buy' and one recommends 'sell'. The overall consensus price of analysts tracked by Bloomberg implies an upside of 9%.