L&T bags 'largest order till date' for offshore hydrocarbon business

Larsen & Toubro Ltd (L&T) on Wednesday said it secured an ultra mega offshore contract for the "North Field Production Sustainability Offshore (Hydrocarbon) Compression Project (NFPS COMP 4)" from global premier LNG firm QatarEnergy, marking the largest single contract ever received by the homegrown conglomerate.

"The scope of work encompasses the engineering, procurement, fabrication, installation, and commissioning of two offshore compression complexes, each comprising of large offshore platforms with compression & power generation facilities, living quarters, flare platforms, interconnected bridges, and other associated structures to be located at approximately 80 kms off the northeast coast of Qatar," L&T stated in a BSE filing.

SN Subrahmanyan, Chairman & Managing Director at L&T, said, "Securing QatarEnergy LNG's Ultra Mega Offshore Contract—the largest single order in our history, is a landmark achievement. This prestigious project strengthens our global energy portfolio while supporting Qatar's energy security objectives."

On the stock-specific front, L&T shares were last seen trading 0.28 per cent higher at Rs 3,479.55. At this price, the stock has shed 5.12 per cent on a year-to-date (YTD) basis.

The counter traded higher than the 5-day, 10-, 20-, 30-day and 50-day simple moving averages (SMAs) but lower than the 100-day, 150-day and 200-day SMAs. Its 14-day relative strength index (RSI) came at 67.50. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The stock has a price-to-equity (P/E) ratio of 47.69 against a price-to-book (P/B) value of 7.26. Earnings per share (EPS) stood at 73.01 with a return on equity (RoE) of 15.22. According to Trendlyne data, L&T has a one-year beta of 1.4, indicating high volatility.