L&T Shares Hit 52 Week High During Day, And Nearly 7% In A Week

The share price of Larsen and Toubro spiked up to reach hit 52-week high mark during the day, on account of it's hydrocarbon business vertical, has got an order of worth Rs 1,000 to 2,500 crore. The details of the order were announced through an exchange filing.

According to the excahneg filing, the Hydrocarbon Business (L&T Energy Hydrocarbon - LTEH) of Larsen & Toubro (L&T) has recently secured an order under its AdVENT (Advanced Value Engineering and Technology) business vertical.

The order is for license plus engineering, procurement and construction (L - EPC) of a Technical Ammonium Nitrate (TAN) plant along with Weak Nitric Acid (WNA) plant at Gadepan, Kota, Rajasthan from Chambal Fertilisers and Chemicals Limited (CFCL), a leading fertilizer company in India.

The TAN and WNA plants, have capacities of approximately 240,000 Metric Tons (MT) p.a. and 2,10,000 MT p.a. respectively, will be built under a technology license from CASALE S.A., a privately owned Swiss Company headquartered in Lugano, Switzerland.

Larsen & Toubro share price rallied to reach near 52-week high level of Rs 2319.90 per share and ended at Rs 2309.15 per share, which is also 1.51% up over intraday basis. In one week the share price went up by 6.92%, in last one year the it surged by 29.68% and in past three years it has massively surged by 166.74%.