L&T rises as its arm secures contracts across business segments

Mumbai : Larsen & Toubro is currently trading at Rs. 1390.20, up by 10.30 points or 0.75% from its previous closing of Rs. 1379.90 on the BSE. The scrip opened at Rs. 1391.00 and has touched a high and low of Rs. 1393.30 and Rs. 1381.00 respectively. So far 21066 shares were traded on the counter. The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 1459.10 on 21-Dec-2018 and a 52 week low of Rs. 1183.40 on 23-Oct-2018.

Last one week high and low of the scrip stood at Rs. 1427.00 and Rs. 1376.00 respectively. The current market cap of the company is Rs. 195091.60 crore. The Institutions and Non-Institutions held 58.16% and 41.84%, stake in the company, respectively. Larsen & Toubro’s (L&T) wholly owned subsidiary — L&T Hydrocarbon Engineering (LTHE) has won contracts of significant value across various business segments. The secured order is in the range of Rs 1000 to 2500 crore. The Modular Fabrication business of LTHE was awarded a contract for Process (PAU) and Piperack (PAR) modules for a process plant, which includes procurement, fabrication, pre-commissioning and load-out of the modules. The contract shall be executed from LTHE’s Modular Fabrication Facility (MFF) at Kattupalli near Chennai.

The business also secured orders for equipment fabrication for a refinery in Oman. The orders shall be executed from LTHE’s facility in Oman. The Construction services business of LTHE also secured an order for additional works for a refinery project in India. Organized under Offshore, Onshore, construction services, modular fabrication and engineering services verticals, LTHE’s Hydrocarbon business delivers ‘design to build’ engineering and construction solutions across the hydrocarbon spectrum. L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.