L&T rises as its arm wins significant contracts for various business segments in Q3FY22
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Larsen & Toubro is currently trading at Rs. 1949.00, up by 10.95 points or 0.57% from its previous closing of Rs. 1938.05 on the BSE.
The scrip opened at Rs. 1936.30 and has touched a high and low of Rs. 1950.00 and Rs. 1927.30 respectively. So far 174403 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1982.95 on 15-Nov-2021 and a 52 week low of Rs. 1296.80 on 05-Jan-2021.
Last one week high and low of the scrip stood at Rs. 1950.00 and Rs. 1880.10 respectively. The current market cap of the company is Rs. 273451.96 crore.
The Institutions and Non-Institutions holding in the company stood at 56.20% and 43.80%.
Larsen & Toubro’s (L&T) Heavy Engineering arm has won significant contracts for its various business segments in Q3 of FY22. The Modification, Revamp and Upgrade (MRU) Business of L&T Heavy Engineering has been awarded an important contract by a key hydrocarbon sector customer in the Middle East. It covers Detailed Engineering, Supply of critical equipment & components, leading into multidisciplinary site work involving multiple staggered shutdowns during which the revamp work would be carried out.
The MRU Business has also been awarded a project for revamp of FCC (Fluid Catalytic Cracking) System for another important Hydrocarbon sector customer in the Middle East. These wins strengthen L&T Heavy Engineering’s position as a key player in the global MRU market. In the domestic market, the MRU business has been awarded the project for RFCC (Residue Fluid Catalytic Cracking) revamp as part of the expansion of the Barauni Refinery (BR-9) by Indian Oil Corporation (IOCL).
Other orders secured by L&T Heavy Engineering include Critical Hydrocracker and Hydrotreater Reactors for the Residue Processing and Treating Unit of the Numaligarh Refinery; Ethylene Oxide Reactors for a Mono-ethylene Glycol (MEG) project in Poland from a European client; Ethylene Oxide Reactor for another MEG Project in Uzbekistan; Waste Heat Boiler packages for an Ammonia Plant in Israel & High-Pressure Heat Exchangers for IOCL Barauni Refinery.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
