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Last Updated : Apr 08, 2020 11:02 AM IST | Source: Moneycontrol.com

L&T gains nearly 4% after subsidiary wins contract from IOC

Company's wholly owned subsidiary of the company has been awarded a Large Project by Indian Oil Corporation Limited (IOCL)

 
 
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Larsen and Toubro gained nearly 4 percent intraday on April 8 after the company's subsidiary won a contract from Indian Oil Corporation.

L&T Hydrocarbon Engineering, a wholly-owned subsidiary of the company, has been awarded a Large Project by Indian Oil Corporation Limited (IOCL).

The engineering, procurement, construction and commissioning (EPCC) contract is for setting up a new 9 MMTPA Atmospheric & Vacuum Distillation Unit (AVU) and allied facilities (EPCC-1 Package) for Barauni Refinery Capacity Expansion Project at IOCL's Barauni Refinery, Bihar.

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The capacity of Barauni Refinery is being augmented from the current installed capacity of 6.0 MMTPA to 9.0 MMTPA.

At 10:44 hrs, Larsen & Toubro was quoting at Rs 815.85, up Rs 14.20, or 1.77 percent on the BSE.

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First Published on Apr 8, 2020 11:02 am
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