L&T wins Large Hydrocarbon Onshore order from Petronet LNG
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On the reaction day the stock moved 0.4 pts less than Nifty 100 and 0.1 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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L&T's Hydrocarbon Onshore business won a Large order (around 2,500 to 5,000 crore rupees) from Petronet LNG, a JV of four government oil PSUs (ONGC, IOCL, GAIL, BPCL). The Lump Sum Turnkey project includes a 170,000 cubic metre LNG/Ethane storage tank and a 140,000 cubic metre Propane tank at Dahej Petrochemical Complex in Gujarat. Part of India's first petrochemical complex using LNG cold energy, supporting the Aatmanirbhar Bharat initiative.
Positive win from a government PSU JV, strengthening L&T's hydrocarbon order book. Order value (Large category) is around 1-2 percent of annual revenue.