L&T rose 0.74% to Rs 1,006.20 at 10:34 IST on BSE, after the company said that L&T Hydrocarbon has recently secured new orders worth Rs 1000 crore from the domestic market in its offshore and onshore business sectors.
The company made the announcement during market hours today, 16 January 2014.
Meanwhile, the S&P BSE Sensex was down 14.73 points or 0.07% at 21,274.76
On BSE, so far 58,507 shares were traded in the counter as against average daily volume of 2.82 lakh shares in the past one quarter.
The stock hit a high of Rs 1,013.20 and a low of Rs 1,002 so far during the day. The stock hit a 52-week high of Rs 1,152.40 on 9 December 2013. The stock hit a 52-week low of Rs 678.10 on 28 August 2013.
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The stock had underperformed the market over the past one month till 15 January 2014, falling 4.83% compared with the Sensex's 2.77% rise. The scrip, however, outperformed the market in past one quarter, jumping 14.84% as against Sensex's 3.61% rise.
The large-cap company has equity capital of Rs 185.21 crore. Face value per share is Rs 2.
L&T said that L&T Hydrocarbon has recently secured new orders worth Rs 1000 crore from the domestic market in its offshore and onshore business sectors.
The major order is an offshore contract from BG Exploration and Production India (BGEPIL) worth about Rs 700 crore. The contract encompasses total engineering, procurement and construction and installation of one wellhead platform and sub sea pipe laying (30 km), spread over the Panna-Mukta fields of joint venture - ONGC-RIL-BGEPIL joint venture, L&T said.
The project is scheduled to be completed by March 2015. In addition to the conventional wellhead facilities, the scope also includes installation of piggy back pipeline on the infield pipeline from an existing PPA Host Complex.
In the onshore sector, L&T Hydrocarbon won an additional order of Rs 300 crore from construction from a leading refinery in India.
L&T's Hydrocarbon provides complete design to build engineering and construction for in oil and gas sector.
L&T declares Q3 results on 22 January 2014. L&T's net profit declined 14.1% to Rs 977.51 crore on 10% growth in net sales to Rs 14509.51 crore in Q2 September 2013 over Q2 September 2012.
L&T is a $14 billion technology, engineering, construction, manufacturing and financial services conglomerate, with global operations.
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