L&T gains on securing orders for Hydrocarbon Business
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Larsen & Toubro is currently trading at Rs. 2196.80, up by 20.05 points or 0.92% from its previous closing of Rs. 2176.75 on the BSE.
The scrip opened at Rs. 2160.00 and has touched a high and low of Rs. 2210.50 and Rs. 2160.00 respectively. So far 13495 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2,210.50 on 16-Dec-2022 and a 52 week low of Rs. 1456.80 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 2210.50 and Rs. 2134.45 respectively. The current market cap of the company is Rs. 309320.64 crore.
The Institutions and Non-Institutions held 62.84% and 37.17% stake respectively in the company.
Larsen & Toubro’s (L&T) Hydrocarbon Business (L&T Energy Hydrocarbon - LTEH) has secured two prestigious orders for its Asset Management and AdVENT business verticals.
Larsen & Toubro Energy Hydrocarbon - Asset Management (LTEH-AM), a new business vertical for Operations and Maintenance (O&M) and associated services in the global market, has secured its first integrated O&M contract from Vedanta, Cairn Oil & Gas division. This 5-year contract is for Integrated O&M of Upstream Oil & Gas Processing Facility at Raageshwari Gas Terminal and associated Gas Well Pads and South Satellite Fields, located in Rajasthan, India.
Further, the AdVENT business vertical has received an order for Engineering, Procurement and Construction (EPC) of a Hydrogen Generation Unit (HGU) from Matheson Tri Gas, Inc. (Matheson), a subsidiary of Nippon Sanso Holdings Corporation (NSHD). Matheson’s Global HYCO business group secured the order for this HGU from Numaligarh refinery in Assam, on a ‘Build - Own - Operate (BOO)’ basis for 20 years with Topsoe, Denmark as the overall process licensor for the unit.
The HGU with a capacity of 95 KTPA (132 kNm3/hr), is an integral part of the Numaligarh Refinery Expansion Project (NREP), to expand current refining capacity from 3 to 9 MMTPA. The EPC work of the project will be executed by L&T, under a stringent timeline of 30 months.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
