Trending stock: This infrastructure giant bags a mega order from the Middle East region!

Praveenkumar Yadav
/ Categories: Trending, Mindshare
Trending stock: This infrastructure giant bags a mega order from the Middle East region!

The stock has gained more than 15 per cent in the last 6 months.

On March 29, 2023, Larsen & Toubro Limited informed in the exchange filing that the company’s Hydrocarbon Business has bagged a mega order worth more than Rs 7000 crore.  The order involves engineering, procurement, construction & installation for various new offshore facilities and integration with existing installations. 

The Hydrocarbon Business is executing several domestic and international offshore projects and is committed to building its regional presence in the geographies in that it operates, by nurturing local skills and talent and enhancing engagement with local vendors and contractors. Earlier, the company’s power transmission and distribution business bagged a significant order ranging between Rs 1,000 – 2,500 crore.   

Larsen & Toubro (L&T) is a major technology, engineering, construction, manufacturing and financial services conglomerate, with global operations. L&T addresses critical needs in key sectors - Hydrocarbon, Infrastructure, Power, Process Industries and Defence - for customers in many countries around the world.  

Today, the stock opened at Rs 2161.10 with a high and low of Rs 2249.70 and Rs 2161.10. The stock previously closed at Rs 2170.95. The stock closed trading at Rs 2257.00, up by 3.96 per cent. It has a 52-week high of Rs 2297.30 and a 52-week low of Rs 1456.80. The stock has delivered multibagger returns of more than 170 per cent in the last three years.  

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