L&T spurts as its arm signs framework agreement with Shell Global Solutions

28 Feb 2017

Larsen & Toubro is currently trading at Rs. 1475.90, up by 7.65 points or 0.52% from its previous closing of Rs. 1468.25 on the BSE.

The scrip opened at Rs. 1468.20 and has touched a high and low of Rs. 1487.00 and Rs. 1468.20 respectively. So far 44209 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1615.00 on 27-Jul-2016 and a 52 week low of Rs. 1055.10 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 1504.75 and Rs. 1461.60 respectively. The current market cap of the company is Rs. 137519.16 crore.

The Institutions and Non-Institutions held 56.73% and 43.26% stake respectively of the company.

Larsen & Toubro’s (L&T) wholly owned subsidiary - L&T Hydrocarbon Engineering (LTHE), has signed an enterprise framework agreement (EFA) with Shell Global Solutions International B.V., for providing engineering, procurement and construction management (EPCM) services for Shell projects in the Middle East, South East Asia and India.

The agreement is for a period of five years. For any agreements resulting from the EFA, LTHE will leverage on its core strengths of engineering and project management to deliver projects for Shell. LTHE's engineering office in India, will be its high value engineering centre.

Larsen & Toubro is a major technology, engineering, construction, manufacturing and financial services conglomerate, with global operations. The company’s manufacturing footprint extends across eight countries in addition to India. The company has several international offices and a supply chain that extends around the globe.

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