Shares of Larsen & Toubro Ltd. were trading lower on Monday, even as the company said it had secured a mandate to develop and implement an energy management system for regional and state load dispatch centres in southern India.
The project will cover 12 control rooms across Andhra Pradesh, Kerala, Puducherry, Tamil Nadu, and Telangana, ensuring real-time monitoring and control of energy flow in the region's transmission network, according to an exchange filing.
The systems will be deployed without causing downtime to the existing infrastructure, the release said.
The company's digital energy solution has also won an advanced EMS project in the western United States. The project's task is to deliver situational awareness tools that assist operators in making real-time, data-driven decisions to safeguard the energy transmission network, according to the release.
Shares of the company were trading 0.96% lower at Rs 3,670.05 apiece. The stock pared losses to trade 0.79% lower at Rs 3,676.40 apiece as of 10:54 a.m. This compares to a 0.89 decline in the NSE Nifty 50 index.
The stock has risen 6.84% on a year-to-date basis. Total traded volume so far in the day stood at 0.15 times its 30-day average. The relative strength index was at 48.75.
Out of 35 analysts tracking the company, 29 maintain a 'buy' rating, four recommend a 'hold,' and two suggest a 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 8.1%.
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