L&T shares jump 2% on ₹15,000cr offshore mega order
Larsen & Toubro (L&T) saw its shares rise nearly 2% on Thursday after landing a massive ₹15,000 crore offshore contract from a Middle Eastern client—rumored to be Saudi Aramco according to industry sources.
The deal covers engineering, procurement, construction, and installation of new offshore structures, plus upgrades to existing ones.
Order to be executed by L&T's Hydrocarbon Offshore team
This "ultra-mega" order will be handled by L&T's Hydrocarbon Offshore team using their own engineering know-how and marine fleet, cementing L&T's spot in a key global market.
The news pushed L&T's share price to an intraday high of ₹3,796.4—a 23% jump over the past six months—and has investors feeling upbeat about the company's future in big energy projects.
L&T's expertise in offshore projects boosts its position
L&T's track record with complex offshore work and its strong in-house capabilities helped seal this deal.
As global oil giants look for reliable partners, this win highlights L&T's potential to keep growing in the booming hydrocarbons sector.