Mr. Keshav Lahoti - Associate Equity Analyst, Angel Broking Ltd
The Construction and Mining Equipment business of Larsen a Toubro has secured one of its biggest orders ever to supply 46 units of Komatsu Mining Equipment from Tata Steel. The order comprises of 41 units of Komatsu HD785-7 (100 Ton Dump Truck), three units of Komatsu WA900-3E0 (9 Cum Wheel Loader) and two units of Komatsu D275A-5R (410HP Crawler Dozer). The scope includes supply of equipment and full maintenance for 60,000 hours of equipment operation. This is a positive development for the company. Winning such a big order from a reputed customer will increase investor confidence in the stock. We are bullish on the company considering that infrastructure activity is picking up, a strong balance sheet and robust order book.
Shares of LARSEN & TOUBRO LTD. was last trading in BSE at Rs.1081.25 as compared to the previous close of Rs. 1059.1. The total number of shares traded during the day was 325028 in over 13258 trades.
The stock hit an intraday high of Rs. 1096.7 and intraday low of 1061. The net turnover during the day was Rs. 352238936.