Larsen & Toubro gains on winning two large orders

Published On: Wednesday, April 8, 2020 | By: Team KnowMyStock

Shares of Larsen and Toubro gained nearly 4 per cent after the company's subsidiary won a contract from Indian Oil Corporation. L&T today announced that L&T Hydrocarbon Engineering, a wholly-owned subsidiary of the company has been awarded a large project by Indian Oil Corporation Limited (IOCL). The company said it has won a large contract from the Indian Army for setting up an advanced IT-enabled system to operate the Armed Forces network under the Network of Spectrum (NFS). The value of a large order ranges between Rs 2,500 crore and Rs 5,000 crore. “The engineering, procurement, construction and commissioning (EPCC) contract is for setting up a new 9 MMTPA Atmospheric & Vacuum Distillation Unit (AVU) and allied facilities (EPCC-1 package) for Barauni refinery capacity expansion project at IOCL's Barauni Refinery, Bihar. The capacity of Barauni Refinery is being augmented from current installed capacity of 6.0 MMTPA to 9.0 MMTPA,” L&T said in a press release.

Closing Bell: Sensex gains 85 points, Nifty at 18755.90

Closing Bell:Sensex gains 418 points, Nifty at 18716.15

MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

Closing Bell: Sensex down 223 points, Nifty at 18,563

MARKET UPDATE: Sensex surged over 100 points to trade around 62,962 levels, whereas Nifty50 climbed over 30 points to trade above 18,650 levels

MARKET UPDATE: Sensex gained over 50 points to trade around 63,228 levels, whereas Nifty50 traded marginally above 18,700 levels

MARKET UPDATE: Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels

MARKET UPDATE: Sensex traded flat at 62,777 levels, whereas Nifty50 was flat above 18,600 levels

Closing Bell: Sensex up 240 points, Nifty at 18593.85

MARKET UPDATE: Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels

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