L&T bags order worth over Rs 7,000 crore from MMRDA for underground road tunnel project

"The major scope of work for project comprises of design & construction of twin road tunnels, using Tunnel Boring Machines (TBMs), connecting these tunnels to the existing elevated Eastern Freeway at Orange Gate near its southern terminal through transition ramps and to the Marine drive at Mumbai," L&T said.

The project alignment will primarly run under the Sardar Vallabhbhai Patel Road.

Earlier this month, the construction conglomerate bagged a mega Aramco order. Reports suggested the order was from Saudi Aramco's Jafurah unconventional gas development project and the contract was worth $2.9 billion or nearly Rs 24,000 crore.

On August 23, it announced that its power transmission and distribution business had won new orders in the Middle East, classifying them as 'large'.

Orders which have a value between Rs 2,500 crore and Rs 5,000 crore are classified as 'large' by the company. And orders worth over Rs 7,000 crore are classified as 'mega'.

On August 1, L&T said its construction arm won multiple orders for its heavy civil infrastructure business, without disclosing the exact values of the same.

The stock is up 0.7 percent at Rs 3,031 apiece at 10.20 am today, September 29.

The stock hit its record high on Thursday, September 28, after brokerage firm UBS maintained its buy rating on the stock but revised its price target higher to Rs 3,600 from Rs 3,040 per share.