Larsen & Toubro Gains On Bagging Order From Technip Energies
Published On: Friday, August 13, 2021 | By: Team KnowMyStock
Shares of Larsen & Toubro (L&T) gained 2.8 percent and hit a record high of Rs.1,676, on the BSE in intra-day trade on Friday, after the company’s heavy engineering arm won an order for Oxidation Reactor from Technip Energies-India, which develops indigenous technology for the critical equipment."This order for the technologically critical Titanium Clad Reactor is for a Public Sector Petrochemical project for Purified Terephthalic Acid plant. The scope of supply involves Design, Material Procurement, fabrication, inspection, and testing of Reactor meeting the Licensors stringent quality requirements," Larsen & Toubro said. This order marks the opening of multiple avenues for L&T Heavy Engineering for critical titanium-clad reactors in both domestic and global markets.
L&T Heavy Engineering is among the top three global heavy equipment fabricators. Its strengths include in-house design and engineering, fully integrated fabrication facilities, R&D centers and experienced project teams.L&T remains at the forefront to reap benefits from the AtmaNirbhar Bharat Scheme with its diversified businesses across sectors such as defence, infrastructure, heavy engineering, and IT. L&T Heavy Engineering developed the technology for titanium clad equipment fabrication inhouse conforming to global standards of quality," L&T added.
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