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Larsen & Toubro shares were trading higher as the company has emerged as the lowest bidder for the tender issued by Energy Efficiency Services Ltd to procure 50 lakh smart meters.
The stock opened at Rs 1,152 and touched an intraday high of Rs 1,155.10 and a low of Rs 1,140.40 on the BSE. At 11.10 a.m., the shares were trading up by 0.27 per cent at Rs 1,144 on the BSE. On the NSE, the stock was up 0.18 per cent at Rs 1,143.
The company has been selected through an international competitive bidding. The meters will be installed over a period of three years in a phased manner in Uttar Pradesh and Haryana.
L&T quoted the lowest price of Rs 2,722, per single-phase smart meter, while Genus Power and KEONICS emerged as second and third lowest bidders. EESL tender was floated for procuring smart meters and services of the system integrator with 100 per cent investment and the utilities will make zero-investment.
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