Larsen and Toubro on Monday, Auugst 24, said L&T Energy Hydrocarbon Onshore has inked an "ultra mega" order for a gas compression project in West Asia. L&T classifies orders that are above ₹15,000 crore as "ultra-mega" orders. L&T said the project involves the engineering, procurement, and construction of gas compression plants, comprising gas inlet facilities, gas compression systems, condensate and produced water handling systems, propane refrigeration systems, and all associated utilities.
The facilities, L&T said, will be developed for new onshore installations to process sour gas in compliance with applicable client standards, codes and project requirements. The company said that to meet the power requirements of the gas compression plants, L&T’s Power Transmission & Distribution business will execute two 230 kV extra-high-voltage substations.
E S Sathyanarayanan, Senior Vice President & Head of L&T Energy Hydrocarbon Onshore, said, “The contract marks the start of a strategically important project that will add significant gas compression capacity and utility infrastructure. The project draws on our extensive experience in executing large and complex hydrocarbon facilities and reinforces our capability to deliver integrated solutions for challenging sour gas applications”Previously, on August 20, a consortium with Japan's Mitsubishi Heavy Industries won a "large" order in the ₹2,500 crore to ₹5,000 crore range.
L&T said the order is to design and build the automated people mover system for Phase 1 of Al Maktoum International Airport in Dubai. Here's a look at the orders L&T has won in a little over the past month:DateOrderWorth July 20Mega₹10,000 - ₹15,000July 24Large₹2,500 - ₹5,000July 27Major₹5,000 - ₹10,000July 28Ultra-mega₹15,000 +July 29Major₹5,000 - ₹10,000July 30Mega₹10,000 - ₹15,000August 4Ultra-mega₹15,000 +August 7Major₹5,000 - ₹10,000August 13Mega₹10,000 - ₹15,000August 17Ultra-mega₹15,000 +August 20Large₹2,500 - ₹5,000August 24Ultra-megaabove ₹15,000 croreWhat Are Analysts Saying Of the 32 analysts who cover the company, 81.3% hold a 'buy' rating for the company, with 5 putting a 'hold' rating and only one analyst saying 'sell'.
Here, JP Morgan's with an 'Overweight' rating, has the highest target price of ₹5,060 per share. Stock Check The shares of the company are largely flat in today's trade. In addition to that, the company's stock has declined by close to 4% in the past 6 months of trading.
The stock is currently moving around ₹4,093.50 per share and is at a 7.804% decline from the 52-week high mark ₹4,440.00 per share.