Although the company did not mention the exact value of the contract, according to its project classification, the value of a large order ranges between Rs 2,500 crore and Rs 5,000 crore.
“The engineering, procurement, construction and commissioning (EPCC) contract is for setting up a new 9 MMTPA Atmospheric & Vacuum Distillation Unit (AVU) and allied facilities (EPCC-1 package) for Barauni refinery capacity expansion project at IOCL's Barauni Refinery, Bihar. The capacity of Barauni Refinery is being augmented from current installed capacity of 6.0 MMTPA to 9.0 MMTPA,” L&T said in a press release.
The Smart World and Communication Business of L&T Construction has secured a large order from the Indian Army to establish a unified network management system to manage, support and operate the countrywide Armed Forces Network under the NFS, the company said in a statement.
With the past two days' gain, L&T's stock has recovered 26 per cent from its multi-year low of Rs 661, touched on March 25, 2020. The stock hit a 52-week high of Rs 1,607 on May 28, 2019.
At 10:05 am, L&T was trading 2.2 per cent higher at Rs 820, against 1.7 per cent rise in the S&P BSE Sensex. A combined 1.7 million shares have changed hands on the counter on the NSE and BSE so far.