L&T wins Rs 15,000 crore worth ultra-mega order; stock reacts
L&T order win: The order comprises of engineering, procurement, & construction for gas processing plant, consisting of Inlet separation facilities, booster compression system, Amine gas recovery unit and dehydration unit.
- Oct 31, 2023,
- Updated Oct 31, 2023 10:31 AM IST
Larsen & Toubro Ltd (Ltd) has received a letter of intent for an ultra-mega onshore order worth Rs 15,000 crore from a Middle East client, which is in addition to a recent project award of a gas compression plant, the construction and engineering major told stock exchanges on Tuesday.
The order has been won by the Hydrocarbon business and the scope of work, as per L&T, comprises of engineering, procurement, & construction for gas processing plant, consisting of Inlet separation facilities, booster compression system, Amine Gas recovery unit, dehydration unit, mercury removal unit, NGL recovery unit and sales gas compression system in new onshore facilities and its integration with existing gas processing plants.
Following the development, the scrip moved into positive terrain for a brief period. It hit a high of Rs 2,952, before slipping in the red. At 10.20 am, the scrip was trading at Rs 2,917.85, down 0.29 per cent.
Chairman & Managing Director SN Subrahmanyan said: “This is a huge order that will not only strengthen our balance sheet but also provides impetus to our demonstrated credentials in the Hydrocarbon EPC space.”
Whole-Time Director and Senior Executive VP for Energy), Subramanian Sarma, said, “In the ever-evolving landscape of the oil and gas sector, this twin wins for LTEH demonstrates our execution and delivering capabilities of ultra mega projects. It drives us to constantly strive for excellence, to innovate, and to deliver solutions that exceed customer expectations.”
Also read: Coal India & Exide Industries: Here's what Sudeep Shah of SBI Securities says on these 2 stocks
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Larsen & Toubro Ltd (Ltd) has received a letter of intent for an ultra-mega onshore order worth Rs 15,000 crore from a Middle East client, which is in addition to a recent project award of a gas compression plant, the construction and engineering major told stock exchanges on Tuesday.
The order has been won by the Hydrocarbon business and the scope of work, as per L&T, comprises of engineering, procurement, & construction for gas processing plant, consisting of Inlet separation facilities, booster compression system, Amine Gas recovery unit, dehydration unit, mercury removal unit, NGL recovery unit and sales gas compression system in new onshore facilities and its integration with existing gas processing plants.
Following the development, the scrip moved into positive terrain for a brief period. It hit a high of Rs 2,952, before slipping in the red. At 10.20 am, the scrip was trading at Rs 2,917.85, down 0.29 per cent.
Chairman & Managing Director SN Subrahmanyan said: “This is a huge order that will not only strengthen our balance sheet but also provides impetus to our demonstrated credentials in the Hydrocarbon EPC space.”
Whole-Time Director and Senior Executive VP for Energy), Subramanian Sarma, said, “In the ever-evolving landscape of the oil and gas sector, this twin wins for LTEH demonstrates our execution and delivering capabilities of ultra mega projects. It drives us to constantly strive for excellence, to innovate, and to deliver solutions that exceed customer expectations.”
Also read: Coal India & Exide Industries: Here's what Sudeep Shah of SBI Securities says on these 2 stocks
Also read: Mamaearth IPO: Should you subscribe to Honasa Consumer's primary offering?