L&T gains on new order - The New Indian Express

L&T gains on new order

Published: 15th July 2014 12:19 PM

Last Updated: 15th July 2014 12:19 PM

Larsen & Toubro (L&T) shares gained on Tuesday after L&T Hydrocarbon, the wholly-owned subsidiary of the company has bagged an order worth Rs 50.76 billion from the Kuwait Oil Company (KOC).

The company will execute a complete Engineer-procure-construct contract for a gathering centre for KOC, a subsidiary of Kuwait Petroleum Corporation (KPC) and fully owned by the state of Kuwait. The new facilities will support KOC's long term strategy for the development of the North Kuwait fields to increase oil production to 1 MMBOPD by 2015/2016.

Shares of the company are trading at Rs 1,630.00, down Rs 31.35, or 1.96% at the Bombay Stock Exchange (BSE) on Tuesday at 9:30 a.m.The scrip has touched an intra-day high of Rs 1,630.00 and low of Rs 1,614.90. The total volume of shares traded at the BSE is 20,898.

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