L&T Hydrocarbon Bags Onshore EPC Contract Worth Rs 4,000 Crore

Larsen & Toubro Ltd., on Thursday, announced that its wholly owned subsidiary, L&T Hydrocarbon Engineering Limited (LTHE), has bagged orders from the international market, totaling to Rs 4000 crore. LTHE for the supply, design, construction and commissioning of a large petrochemical facility has won a major Onshore EPC contract in the Middle East.

LTHE’s Modular Fabrication business in the Middle East and Africa has also secured significant orders for the supply of modularised structures and skids for ongoing refinery projects. The orders were won against international competitive bidding, and reinforce LTHE’s unique capability to deliver 'design to build' engineering and construction solutions across the hydrocarbon spectrum.

L&T Limited on the NSE has delivered over 27% returns in a period of one year, outperforming the BSE Sensex over the same time span. Larsen & Toubro Ltd is currently trading at Rs 1563.95, up by Rs 7.9 or 0.51% from its previous closing of Rs 1556.05 on the BSE.

The scrip opened at Rs 1561 and has touched a high and low of Rs 1569.95 and Rs 1558.3 respectively. So far 388389(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 145174.14 crore.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 1615 on 27-Jul-2016 and a 52 week low of Rs 1177 on 07-Apr-2016. Last one week high and low of the scrip stood at Rs 1567.5 and Rs 1520.9 respectively. The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 55.58 % and 42.37 % respectively. The stock is currently trading above its 50 DMA.

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