L&T moves up on its arm bagging EPC contract worth Rs 2,100 crore

01 Jan 2018

Larsen & Toubro is currently trading at Rs. 1262.15, up by 5.20 points or 0.41% from its previous closing of Rs. 1256.95 on the BSE.

The scrip opened at Rs. 1264.90 and has touched a high and low of Rs. 1267.95 and Rs. 1259.05 respectively. So far 6289 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1275.00 on 27-Dec-2017 and a 52 week low of Rs. 896.08 on 30-Dec-2016.

Last one week high and low of the scrip stood at Rs. 1275.00 and Rs. 1248.00 respectively. The current market cap of the company is Rs. 176102.67 crore.

The Institutions and Non-Institutions held 57.51% and 42.49%, stake in the company, respectively.

Larsen & Toubro’s (L&T) wholly-owned subsidiary - L&T Hydrocarbon Engineering (LTHE) has secured a major EPC contract for Crude Distillation and Vacuum Distillation Unit (CDU & VDU) from Hindustan Petroleum Corporation (HPCL), Visakhapatnam Refinery, and an extension to an ongoing contract for Reliance Industries Jamnagar, both adding to approximately Rs 2,100 crore.

The 9 MMTPA CDU & VDU project is a part of HPCL Visakh Refinery Modernization Project (VRMP) and involves Engineering, Procurement, Construction and Commissioning. The order reinforces LTHE’s unique capability to deliver 'design to build' engineering and construction solutions across the hydrocarbon spectrum.

Larsen & Toubro is a major technology, engineering, construction, manufacturing and financial services conglomerate, with global operations.

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