Larsen And Tourbo

On Monday, L&T announced that the hydrocarbon business of the company secured a significant order under its AdVENT (Advanced Value Engineering and Technology) business vertical

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The company said its buildings and factories business has received an order for execution of mechanical works for a cement plant at Kurnool.

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The stock of Larsen and Toubro (L&T) has been a surprise winner gaining over 22 per cent year-to-date, much ahead of BSE Sensex's 12.5 per cent. This is despite a lacklustre December quarter show. But, interestingly the Street is willing to put all the disappointments behind and look at the bright side of the company. "L&T today has reached a certain scale that it would be unfair to see the company expand its order book by 12-15 per cent year-on-year hereon, given its base effect and the operating conditions which haven't turned totally favourable yet," a fund manager invested in the stock explains.Therefore, he believes that what analysts would closely monitor is whether L&T is taking the right steps to reduce its working capital ratio and monetise its non-core assets. Analysts at Jefferies, who recently upped their 12-month target price on L&T to Rs 2,000 (nearly 20 per cent upside), say that the company has begun the process of improving its return ratios from the ..

Larsen and Toubro Hydrocarbon Engineering today said it has bagged orders worth Rs 1,100 crore from IOC for its Bongaigaon refinery in Assam. The orders are for IOC's Indane Maximisation project, under which it will set up a fluidised cracking unit including LPG treatment facility. Larsen and Toubro Hydrocarbon Engineering Ltd is a wholly-owned subsidiary of engineering major Larsen and Toubro (L&T). "The company has bagged an onshore EPC contract from IOC worth around Rs 1,100 crore for setting up a 0.740 MMTPA Fluidised Cracking Unit (FCU) including LPG treatment facility at their Bongaigaon refinery, Assam," it said in a BSE filing. The contract covers extended basic engineering, detailed engineering, procurement, supply, transportation and installation, among others. The process licensor for the Indane Maximisation (INDMAX) unit is Lummus Technology, the company said, adding that Merichem, US, is the the process licensor for the LPG treatment unit. The company said it .