Last Updated: April 05, 2023, 12:32 IST
L&T receives orders price Rs 60,710 crore on the group stage through the quarter ended December 31, 2022, registering a development of 21 per cent YoY. (Photo: Reuters)
Shares of engineering & building conglomerate Larsen & Toubro are heading in direction of their 52-week excessive
Larsen & Toubro Ltd shares rose almost 3 per cent to Rs 2,228.90 on the BSE in Wednesday after the corporate mentioned in a discover to exchanges that it has bagged a mega order for its hydrocarbon enterprise.
The engineering and building firm, nevertheless, didn’t present the precise worth of the contract, however specified that as per its classification, a mega mission is of over Rs 7,000 crore.
“The Hydrocarbon Business (L&T Energy Hydrocarbon – LTEH) of L&T has recently secured multiple offshore packages from a prestigious client in the Middle East,” the corporate mentioned in press launch.
The scope of labor includes engineering, procurement, building & set up for varied new offshore services and integration with current installations, the corporate mentioned.
“LTEH Offshore has consistently demonstrated timely project delivery deploying end-to-end capabilities, including design, fabrication, and installation of large process platforms, living quarters, subsea systems, piping and other T&I works. Securing these repeat orders indicates customer satisfaction and is a testimony to customer’s faith in the team’s dedicated efforts towards developing and nurturing these capabilities.” mentioned Subramanian Sarma, Whole-Time Director and Senior Executive Vice-President.
LTEH offers complete design-to-build options for the hydrocarbon sector worldwide. Over three many years of experience has allowed it to set international benchmarks in mission administration, company governance, high quality assurance, well being and security, environmental sustainability, and operational excellence.
Thus far within the present calendar yr 2023, L&T has outperformed the market by surging 6.5 per cent, as in comparison with 2.7 per cent decline within the S&P BSE Sensex. The inventory had hit a file excessive of Rs 2,297.30 on January 20, 2023.
L&T primarily operates in infrastructure, heavy engineering, defence engineering, energy, hydrocarbon, providers enterprise segments. Infrastructure phase contributes round 45 per cent to consolidated income adopted by providers (round 30 per cent).
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