L&T hits record high on order win from Technip Energies

In two days, the stock has gained 4% after L&T announced divestment of 100% stake in its 99 MW hydro power plant located in Uttarakhand to Renew Power for the sale consideration of Rs 985 crore.

Shares of Larsen & Toubro (L&T) hit a record high of Rs 1,648.40, up 1.6 per cent 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. However, the company  has not yet disclosed order size. The stock surpassed its previous high of Rs 1,647 hit on July 22, 2021.

The order, according to the company, is 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