07-03-2024 11:34 AM | Source: Accord Fintech
L&T rises as its Hydrocarbon Business secures order from ONGC

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Larsen & Toubro is currently trading at Rs. 3667.95, up by 24.30 points or 0.67% from its previous closing of Rs. 3643.65 on the BSE.

The scrip opened at Rs. 3651.25 and has touched a high and low of Rs. 3671.55 and Rs. 3643.05 respectively. So far 40592 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 3738.90 on 30-Jan-2024 and a 52 week low of Rs. 2108.00 on 13-Mar-2023.

Last one week high and low of the scrip stood at Rs. 3680.05 and Rs. 3491.05 respectively. The current market cap of the company is Rs. 504076.70 crore.

The Institutions and Non-Institutions held 63.06% and 36.94% stake in the company respectively.

Larsen & Toubro’s (L&T) Hydrocarbon Business -- L&T Energy Hydrocarbon (LTEH) has secured an order from the Oil & Natural Gas Corporation (ONGC) for the MHN TCPP PGC BGC Project (MTPBP), off India’s West Coast. The scope of work includes engineering, procurement, construction, installation, and commissioning of new Process Gas Compressor (PGC) modules at ONGC’s Mumbai High & Tapti offshore locations along with the upgrade of existing facilities to enhance production.

This order reflects customer faith in L&T’s capabilities and L&T’s steadfast commitment to support ONGC in securing India’s energy needs. Organised under Offshore, Onshore EPC, Modular Fabrication, Advanced Value Engineering & Technology (AdVENT) and Offshore Wind Farm Business Groups, LTEH offers integrated design-to-build solutions across the hydrocarbon sector to domestic and international customers. With over three decades of rich experience, LTEH has been setting global benchmarks in all aspects of project management, corporate governance, quality, health safety environment (HSE) and operational excellence.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.