L&T shares rally 5% as company secures biggest-ever order

On the NSE, the share prices surged 5.09 percent and were trading at Rs1,135.90

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Construction giant’s Larsen & Toubro’s (L&T ) share prices rallied nearly 5 percent and were trading at Rs 1,135.30 on the BSE in early trade on Wednesday, all thanks to the company’s construction and mining equipment business securing one of its biggest-ever order. On the NSE, the share prices surged 5.09 percent and were trading at Rs1,135.90.

Larsen & Toubro’s construction and mining equipment business has secured one of its biggest orders ever to supply 46 units of Komatsu Mining Equipment to Tata Steel, the company mentioned in a regulatory filing.

According to the filing, 26 of these 46 units of Komatsu Mining Equipment will be deployed at Tata Steel’s Iron Ore Mines located in Joda, Noamundi and Khondbond in Odisha, while 20 units of Komatsu 100 Ton Dump Trucks will be deployed at Tata Steel’s West Bokaro Coal Mines situated in Jharkhand. The scope of this order includes supplying of equipment and full maintenance contract for 60,000 hours of equipment operation.

“Komatsu’s superior products and L&T’s seamless support over the years, paved the way for securing this prestigious order and we look forward to partnering India’s largest steel producer – Tata Steel, in their growth journey,”  said S N Subrahmanyan, CEO & MD, Larsen & Toubro.