L&T moves up as its arm bags two EPCC contracts from IOC
Larsen & Toubro is currently trading at Rs. 1302.05, up by 6.75 points or 0.52% from its previous closing of Rs. 1295.30 on the BSE.
The scrip opened at Rs. 1301.35 and has touched a high and low of Rs. 1307.45 and Rs. 1298.60 respectively. So far 21428 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. 1337.45 and Rs. 1268.00 respectively. The current market cap of the company is Rs. 182726.92 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 two significant orders from Indian Oil Corporation (IOC).
The engineering, procurement, construction and commissioning (EPCC) contracts are for setting up Mono Ethylene Glycol (MEG) plant and Ethylene Recovery Unit (ERU) under LSTK-1 Package, associated Offsite and Utilities under LSTK-2 Package at IOCL Paradip Refinery (Odisha). MEG plant is licensed by Scientific Design with a capacity of 357 KTA while ERU is licensed by Lummus Technology (now McDermott) with a capacity of 180 KTA.
Ethylene Oxide reactor, columns and other critical equipment for the project will be fabricated in house at Larsen a Toubro's manufacturing facilities.
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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