In Major Win, L&T Lands Order From Oil Giant That's Bigger Than Tesla And Meta Combined
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Congratulations!
You have successfully subscribed.

In a move that further cements its position in the global engineering landscape, Larsen and Toubro Ltd (L&T) has reportedly clinched a colossal deal from Saudi Aramco’s Jafurah unconventional gas development project. This contract, ringing in at a whopping $2.9 billion (around ₹24,000 crore), tasks L&T with crafting a gas processing plant and spearheading the main process units for the venture.

There’s More: But according to a CNBC-TV18 report, that’s not all on L&T’s plate. The company is also in the race for another meaty package, this one valued at $10 billion (₹83,145 crore), for the Safaniyah gas field. Bids for this project have already been tabled.

See Also: Jio Financial To Exit Nifty 50 Today: What Are Shares Doing?

Rewinding a bit, L&T’s recent achievements include securing substantial EPC (engineering, procurement, and construction) orders in both India and Saudi Arabia through its power transmission and distribution (PT&D) arm.

By the close of FY23, L&T’s order book was bursting at the seams, showcasing a value of ₹399,526 crore, marking a 12% YoY surge.

Price Action: L&T Ltd. shares were trading 0.40% higher at ₹2,741.40, roughly an hour after markets opened for trading on Thursday.

Read Next: Tata Consumer Shares Tank As Firm Says Haldiram Acquisition Not On Menu

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
EquitiesMarketsMoversTrading IdeasL&TSaudi Aramco