Larsen & Toubro Gains On Bagging Order From Technip Energies

Shares of the country's largest infrastructure developer, Larsen & Toubro, rose as much as 2.35 per cent to hit record high of Rs 1,660.

Shares of the country's largest infrastructure developer, Larsen & Toubro, rose as much as 2.35 per cent to hit record high of Rs 1,660 on the BSE after the company announced that it has bagged an order from Technip Energies, which develops indigenous technology for the critical equipment. The heavy engineering arm of Larsen & Toubro won an order for Oxidation Reactor from Technip Energies India against stiff global competition, the company said in an exchange filing. "This order for the technologically critical Titanium Clad Reactor is for a Public Sector Petrochemical project for Purified Terephthalic Acid plant. The scope of supply involves Design, Material Procurement, fabrication, inspection and testing of Reactor meeting the Licensors stringent quality requirements," Larsen & Toubro said. The order marks opening of multiple avenues for L&T Heavy Engineering for critical Titanium Clad Reactors in both Domestic and Global markets.