L&T's shares rose about 1% on Friday after the engineering giant announced a big new contract for its hydrocarbon division.
What the contract involves
The deal is with Petronet LNG, a joint venture of ONGC, Indian Oil, GAIL and BPCL. L&T will design, build and commission large storage tanks at the Dahej complex in Gujarat.
- One 170,000 cubic‑metre LNG/ethane tank
- One 140,000 cubic‑metre propane tank
- Facilities to handle and dispatch ethane and propane for a downstream plant
The contract value is classified as “large”, meaning it is worth roughly Rs 2,500 crore to Rs 5,000 crore.
How the stock reacted
After the announcement, L&T’s share price was up 1.02% at Rs 3,905.4 on the NSE. Over the past year the stock has risen about 11%, matching the Nifty 50’s performance.
Why this matters
The project is part of India’s first petrochemical complex that will use cold energy from an LNG terminal, boosting local manufacturing capacity. It also helps calm recent worries about overseas project news that had unsettled investors.
Remember, this is just my view, not a prediction. Do your own research before making any investment decisions.