L&T rises and falls

In the morning trades, L&T rose Rs.1652 to Rs.1662 but from there, it slipped to Rs.1639 and is currently trading in the red.

The market initially reacted to the positive news from the company about another order receipt.

The company announced today morning that it’s Water &Effluent Treatment business has received a ‘large’ order – worth Rs.2500 to 5000 crore.

This is from the Brihanmumbai Municipal Corporation (BMC) to execute the Bandra Wastewater Treatment Facility under the Mumbai Sewage Disposal Project - Stage II.

The scope includes Design, Build, Operation and Maintenance of the 360 MLD sewage treatment plant with a provision to generate inhouse power. The project will also host a panoramic viewing gallery, a knowledge centre, and a library with the larger goal of creating awareness amongst various stakeholders.