Shares of engineering bigwig Larsen & Toubro (L&T) rose 1.8% to their highest levels in nearly 10 months after the firm won an ‘ultra-mega’ order for its hydrocarbon onshore business.
L&T classifies any order above ₹15,000 crore as an ultra-mega order.
L&T’s Hydrocarbon Onshore business has secured an order to set up a Natural Gas Liquids (NGL) plant and allied facilities in the Middle East, it said in a press release on October 9. The project is awarded in a consortium with Greece-based Consolidated Contractors Group S.A.L. (CCC), with L&T leading engineering and procurement while CCC manages construction activities.
The scope covers engineering, procurement, construction, installation, and commissioning of the NGL plant, along with all associated utilities, offsite works, and integration with existing infrastructure.
The facility will process Rich Associated Gas (RAG) sourced from offshore and onshore oil fields, removing impurities such as H2S, CO2, and water. The treated gas will yield valuable products including lean sales gas, ethane, propane, butane, and hydrocarbon condensate.
This marks L&T’s fifth big order over the past month.
Its Buildings & Factories (B&F) vertical secured major domestic orders worth ₹5,000 – ₹10,000 crore, including a turnkey project to build a 5.9 million sq. ft. IT Park in Bengaluru.
Its renewables (RENU) vertical signed an MoU with ACWA Power to execute the renewables and grid scope of the prestigious Yanbu Green Ammonia Project in Saudi Arabia.
Its Construction Equipment and Industrial Products Design & Development (CE & IPDD) vertical won multiple orders across sectors, including support contracts for Komatsu mining equipment, tyre machinery for leading manufacturers, and valve supply orders for domestic and Saudi projects.
Recently, its Heavy Civil Infrastructure (HCI) business bagged an order worth ₹1,000 – ₹2,500 crore from NPCIL for civil works at Units 5 and 6 of the Kudankulam Nuclear Power Project in Tamil Nadu.
L&T also formed a partnership with Bharat Electronics (BEL) to support the Indian Air Force’s Advanced Medium Combat Aircraft (AMCA) programme.
Stock Watch
L&T’s share price rose to ₹3,796.40, its highest level since December 18, 2024.
However, retail sentiment on Stocktwits has remained ‘bearish’ over the last couple of sessions. It was ‘neutral’ prior to that.
The stock has shown steady growth over the past few months, adding 4% so far this year. Over a one-year period, L&T shares have gained 6.4%.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<