A consortium led by L&T Hydrocarbon Engineering has secured mega contracts for two offshore packages from a prestigious overseas client.
The company's water & effluent treatment business received large contracts (ranging between Rs 2,500 and Rs 5,000 crore) from the State Water & Sanitation Mission (SWSM), Uttar Pradesh
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.
The capital goods index hit a record high of 21,345 in intra-day trade, surpassing its previous high of 21,021, touched in November 2007
Some pin hopes on the NIP even as awards for FY21 and year after look bleak
Even though it was better than what analysts had expected, it still paints a bleak picture.
Usually, Q4 is an execution-heavy quarter for capital goods players, but the lockdown has affected execution and deliveries for most companies.
Analysts anticipate some amount of weakness on the execution front in H1FY21 due to current challenges in manpower movement.
The sharp slide in crude oil prices of more than 40 per cent to $30/barrel is expected to impact overall orders/awarding from the Middle East and North Africa (MENA) region
The overall profit came in at Rs 2,352 crore, including the profit after tax (PAT) from discontinued operations for the quarter, up 15.2 per cent YoY.
Engineering and capital goods major L&T will announce its December-quarter financial result on January 22
Thus far in November, L&T has underperformed the market by falling 10 per cent, as compared to a 2 per cent rise in the S&P BSE Sensex.
Post the Union Budget presentation, L&T has underperformed the market by falling 18 per cent, as compared to 8 per cent decline in the S&P BSE Sensex