L&T shares surge as its unit bags biggest-ever order1 min read . Updated: 18 Nov 2020, 12:38 PM IST
The construction and mining Equipment business of L&T has secured one of its biggest orders ever to supply 46 units of Komatsu Mining Equipment from Tata Steel
Shares of Larsen & Toubro (L&T) rose as much as 5% today after the company's construction and mining equipment business secured one of its biggest-ever order. The company's shares rose to ₹1,138 at day's high on BSE.
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 company said in a regulatory filing.
As per the filing, 26 of these 46 units will be deployed at Tata Steel's Iron Ore Mines at Joda, Noamundi and Khondbond in Odisha, while 20 units of Komatsu 100 Ton Dump Trucks will be deployed at Tata Steel's West Bokaro Coal Mines in Jharkhand.
The scope of the order includes supply of equipment and full maintenance contract for 60,000 hours of equipment operation.
"Komatsu's superior products and L&T's seamless support over the years, paved the way for securing this prestigious order and we look forward to partnering India's largest steel producer - Tata Steel, in their growth journey," S N Subrahmanyan, CEO & MD, Larsen & Toubro said.
LaT distributes and supplies equipment to the infrastructure, mining and irrigation sectors. This line of business includes distribution and support of equipment such as hydraulic excavators, rear dump trucks, crawler dozers, wheel loaders, wheel dozers, motor graders, heavy tippers, surface miners, and skid steer loaders.