Larsen & Toubro wins multiple orders from Middle East; Stock rallies 2%

Larsen & Toubro stocks rallied on Wednesday as its Hydrocarbon Business (L&T Energy Hydrocarbon – LTEH) has recently secured multiple offshore packages from a prestigious client in the Middle East.

The scope of work comprises engineering, procurement, construction & installation for various new offshore facilities and integration with existing installations, the company said to the stocks exchanges in a filing on Tuesday.

Commenting on the order wins, Subramanian Sarma, Whole-Time Director and Senior Executive Vice President, said, “LTEH Offshore has consistently demonstrated timely project delivery deploying end-to-end capabilities, including design, fabrication, and installation of large process platforms, living quarters, subsea systems, piping and other T&I works. 

Securing these repeat orders indicate customer satisfaction and is a testimony to customer’s faith in the team's dedicated efforts towards developing and nurturing these capabilities.”

On Wednesday, at around 11:12 AM, Larsen & Toubro was trading higher by 2.36% at Rs2222.15 per share on the BSE.