- 14 Jun 2024
- ICICI Securities
LARSEN & TOUBRO BAGGED A 'LARGE ORDER' FROM ONGC
LT - 3341 Change: 18.70 (0.56 %)News: Larsen & Toubro (L&T) on Thursday said it has bagged a 'large order' from state-owned Oil and Natural Gas Corporation (ONGC). L&T has classified the order as 'large', which means the order value ranges between Rs 2,500 crore and Rs 5,000 crore. The Hydrocarbon vertical (L&T Energy) of Larsen & Toubro (L&T) has secured an order from the Oil & Natural Gas Corporation (ONGC) for Daman Upside Development Project-Wellhead Platforms & Pipelines (DUDP-WP), off India's west coast. The scope of work includes engineering, procurement, construction, installation, and commissioning of four wellhead platforms, 140-km pipeline and associated topside modifications.
Views: The hydrocarbon segment is promising for the company in FY25 both in the domestic and international markets. The order win will help the company to achieve its order inflow target for FY25 and improve its visibility.
Impact: Positive