Moneycontrol
Dec 07, 2017 09:43 AM IST | Source: Moneycontrol.com

L&T gains 1% as subsidiary wins order over Rs 1600 crore

L&T Hydrocarbon Engineering has won an order worth over Rs 1,600 crore from Hindustan Petroleum Corporation.

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Share price of Larsen and Toubro (L&T) added more than 1 percent in the early trade on Thursday on order win by subsidiary company.

L&T Hydrocarbon Engineering, a wholly owned subsidiary of engineering and construction major, Larsen and Toubro has won an order worth over Rs 1,600 crore from Hindustan Petroleum Corporation, Visakhapatnam Refinery.

The project is a part of HPCL Visakh Refinery modernization project and involves engineering, procurement, construction and commissioning of 3.053 MMTPA full conversion hydrocracker project.

L&T has been serving the onshore hydrocarbon sector since early 1990s.

The company’s track record includes successful completion of several challenging projects for domestic and international clients.

At 09:22 hrs Larsen & Toubro was quoting at Rs 1,197.60, up Rs 7.55, or 0.63 percent on the BSE.

The stock surged nearly 32 percent in the last one year.

The share touched its 52-week high Rs 1,274.00 and 52-week low Rs 868.04 on 10 November, 2017 and 23 December, 2016, respectively.

Currently, it is trading 6.01 percent below its 52-week high and 37.94 percent above its 52-week low.

Posted by Rakesh Patil
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