LARSEN and TOUBRO (L&T) hits record excessive on order win from Technip Energies

 L&T hits record excessive on order win from Technip Energies

Shares of Larsen & Toubro (L&T) hit a record excessive of Rs 1,648.40, up 1.6 in keeping with cent at the BSE in intra-day change on Friday, after the business enterprise’s heavy engineering arm received an order for Oxidation Reactor from Technip Energies-India. However, the business enterprise has now no longer but disclosed order size. The inventory exceeded its preceding excessive of Rs 1,647 hit on July 22, 2021.

The order, in keeping with the business enterprise, is for the technologically crucial Titanium Clad Reactor is for a public area petrochemical challenge for purified Terephthalic Acid plant. The scope of deliver entails design, cloth procurement, fabrication, inspection and trying out of reactor assembly the licensors stringent high-satisfactory requirements.

Meanwhile, withinside the beyond buying and selling days, the inventory of construction & engineering business enterprise has received four in keeping with cent after the it introduced divestment of a hundred in keeping with cent stake in its ninety nine MW hydro electricity plant placed in Uttarakhand to Renew Power for the sale attention of Rs 985 crore.

This is in keeping with the declared L&T cognizance of divesting non-middle belongings and enhancing shareholder value, the business enterprise stated.

“L&T’s resilient operational overall performance amid 2nd wave of COVID-19 and keeping steerage associated with execution, order consumption and operating capital requirement for FY2022 are key positives rising out of Q1FY2022 results,” analysts at Sharekhan stated in end result replace note.

International outlook, in keeping with Sharekhan, seems promising mainly for GCC nations with a pick-up in oil costs and quicker restoration from covid-19 pandemic. On the longer term, L&T stays at the vanguard to obtain advantages from the AtmaNirbhar Bharat Scheme with its diverse companies throughout sectors inclusive of defence, infrastructure, heavy engineering, and IT. The business enterprise stays the first-rate proxy for home capex and its enhancing enterprise environment, the brokerage corporation stated.

“L&T has rightly prioritized its stability sheet electricity over increase throughout the second one COVID wave. We consider L&T is poised for sturdy income increase momentum, if and whilst order inflows benefit momentum. The business enterprise has a few greater asset monetization possibilities to capitalize on, along with the sale of Nabha Power, a stake sale in L&T IDPL, and the monetization of the Hyderabad Metro,” stated analysts at Motilal Oswal Securities in a latest report.

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