Shares of Larsen and Toubro Ltd (L&T) were trading in the green and 1% higher on 29 July after the company announced its hydrocarbon offshore business vertical has obtained an “ultra-mega” contract from a client in the Middle East.

L&T identifies orders exceeding Rs 15,000 crore as “ultra-mega” orders.

According to the company, the contract covers numerous offshore packages, with the scope of work including engineering, procurement, construction, and installation of offshore structures, as well as upgrades to existing facilities.

L&T’s hydrocarbon offshore vertical provides engineering, procurement, construction, installation, and commissioning solutions for the offshore oil and gas industry.

On another note, L&T will disclose its first-quarter earnings on Tuesday, 29 July.

Last week, L&T’s buildings and factories unit received orders worth Rs 2,500 crore to Rs 5,000 crore in India and worldwide.

It received orders from the Andhra Pradesh Capital Region Development Authority for projects in Amaravati, as well as an order from a developer to build residential towers in Mumbai.

L&T Oman’s buildings and industries business recently received a repeat order from a client for the development of a premium office space in Muscat, the company announced.

Last week, L&T announced that it would build India’s largest green hydrogen plant at Indian Oil Corporation Ltd.’s refinery in Panipat, Haryana.

At 11:40 am, the shares of Larsen and Toubro were trading 0.98% higher at Rs 3,456 on NSE. 

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