L&T soars as its arm wins another EPCI Order from Saudi Aramco

15 Jan 2019

Larsen & Toubro is currently trading at Rs. 1340.20, up by 6.20 points or 0.46% from its previous closing of Rs. 1334.00 on the BSE.

The scrip opened at Rs. 1342.10 and has touched a high and low of Rs. 1348.00 and Rs. 1336.00 respectively. So far 25538 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1469.60 on 01-Feb-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. 1399.00 and Rs. 1331.00 respectively. The current market cap of the company is Rs. 188213.02 crore.

The Institutions and Non-Institutions held 57.57% and 42.44%, stake in the company respectively.

Larsen & Toubro’s (L&T) wholly-owned subsidiary --L&T Hydrocarbon Engineering (LTHE), in consortium with Subsea 7 has won another award for two projects from Saudi Aramco. The award consists of engineering, procurement, construction and installation (EPCI) of three Oil Production Deck Manifolds and Subsea Pipelines in Zuluf and Berri Fields of Saudi Aramco.

This is the fifth award for the consortium and provides for significant project pipeline for the firms. At present, there are four offshore contracts under execution by the consortium for Saudi Aramco under the Long-Term Agreement. LTHE has three fabrication yards and this project will be built at its flagship facility at Hazira in Gujarat, India, established to design and build offshore oil and gas projects.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.

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