L&T Hydrocarbon Engg bags Rs. 1,267 crore order from ONGC

In an addition to its order-book, L&T Hydrocarbon Engineering secured an offshore contract worth Rs. 1,267 crore from the PSU major Oil and Natural Gas Corporation. L&T Hydrocarbon Engineering is a wholly-owned subsidiary of Larsen and Toubro.
 
However, the stock declined by around 3 per cent on the bourses on Friday, on the account of profit booking. The stock had gained by 4 per cent to Rs. 1,264.05 per share on Saturday, November 11, 2017.
 
Larsen & Toubro had posted an exceptional rise of 63 per cent in its consolidated profit after tax before exceptional items on a yearly basis to Rs. 1,683 crore for the second quarter of FY18. The company ’s overall PAT grew by 26.83 per cent yoy to Rs. 1,820 crore for the corresponding period.
 
The company secured orders worth Rs. 28,732 crore during the second quarter of FY17. It boasted an international order book worth Rs. 10,420 crore for the period.
 
At 12:05 hours IST, the stock stood at Rs. 1,232.60 per share, lower by 2.49 per cent on BSE on Monday. The stock hit an intraday high of Rs. 1,240 per share and an intraday low of Rs. 1,210.05 per share on BSE. The stock had hit its 52-week high of Rs. 1,274 per share on November 10, 2017 and its 52-week low of Rs. 868.43 per share on December 23, 2016.