Stock markets in India are trading marginally higher. Gains are largely seen in healthcare stocks and consumer durables’ stocks.
The BSE Sensex is trading up by 78 points and the NSE Nifty is trading up by 28 points. Meanwhile, the BSE Mid Cap index is trading up by 0.8% while, the BSE Small Cap index is trading up by 0.8%.
Engineering stocks are trading on a mixed note with EMCO Ltd & Welspun Corp leading the pack of gainers. As per an article in a leading financial daily, Larsen & Toubro’s (L&T) construction arm — L&T Construction has bagged orders worth Rs 26.5 billion across various business segments.
L&T Construction’s Transportation Infrastructure business has bagged a new order worth Rs 21 billion from Maharashtra State Road Development Corporation (MSRDC), for the construction of Package 10 of the Six-lane Nagpur Mumbai Super Communication Expressway.
Further, Heavy Civil Infrastructure business of the company’s construction arm has also bagged an order worth Rs 5.6 billion from Maharashtra State Road Development Corporation (MSRDC) for construction of the Thane Creek Bridge-III.
This will be the third bridge to be constructed across Thane Creek channel.
Notably, diversification continues to help L&T negotiate and get better terms and margins for projects. Apparently, this is because it is less desperate to win orders as compared to a company which are present in only a couple of sectors. Its reputation, extensive technical prowess, and large skilled workforce have enabled L&T to command a certain premium from customers and vendors alike.
Whether further addition to these new projects provides a cushion to its profitability will be an interesting thing to watch out for going forward.
To know more about the company, you can access to L&T’s Q1FY19 result analysis and L&T’s 2017-18 Annual Report Analysis on our website.
