L&T zooms to new 52-week high on wining order to build AIIMs in Haryana

The L&T stock touched a fresh 52-week high of Rs 3,575.90 on January 9, up around two percent from the previous close, after it bagged the order to build an AIIMS in Haryana.

Larsen & Toubro Construction’s buildings and factories business secured the “significant” order from HITES, a mini-Ratna PSE under health and family welfare ministry. The new All India Institute of Medical Sciences will be built in Rewari, the infrastructure major has said.

The company didn’t disclose the value but described it as a “significant” order, a classification meant for works in the Rs 1,000 crore-Rs 2,500 crore bracket.

At 11.20 am, L&T was trading at Rs 3,561 on the NSE, up 1.7 percent from the previous close.

The company has bagged the order on a Design, Engineering, Procurement and Construction (EPC) basis.

The new institute will include a 720-bed teaching hospital, a 30-bed AYUSH hospital, 100-student annual intake college, a nursing college, a 500-seat auditorium and hostel facilities. The total built up area will be 1.5 million square feet.

The work would include civil structure, finishes and allied services, including built-in furniture and installation, testing and commissioning of various systems, the company said in a filing.

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Over the past six months, L&T has surged 46.20 percent, outperforming the benchmark Nifty 50, which has given investors returns of around 11 percent during the period.

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