Shares of engineering & construction conglomerate Larsen & Toubro are heading towards their 52-week high after the company's Hydrocarbon business received multiple offshore orders from a "prestigious" client in the Middle East.

Share Market Live

NSE

L&T has classified the order as a "mega" order, implying an order value size in excess of Rs 7,000 crore.

The scope of work includes engineering, procurement, construction and installation for various new offshore facilities and integration with existing installations, the company said in a filing to the stock exchanges.

The company said that its hydrocarbon business is executing several domestic as well as international offshore projects. The arm is devoted to build its regional presence in geographies that it operates in through local skills and talent, and enhancing engagement with local vendors and contractors.

LTEH provides integrated design-to-build solutions across the hydrocarbon sector worldwide. The hydrocarbon arm with over three decades of experience has been setting global benchmarks in all aspects of project management, corporate governance, quality, health safety environment and operational excellence.

The latest order comes after Larsen and Toubro won five orders in the month of March. This included L&T Construction securing "significant" engineering, procurement, and construction orders for its power transmission and distribution business. L&T's Minerals and Metals (M&M) business also bagged two orders from the Vedanta Group, which it classified as "large."

It classifies orders ranging between Rs 1,000 crore to Rs 2,500 crore as a "significant" order and order ranging between Rs 2,500 crore to Rs 5,000 crore in size as "large".

Shares of Larsen & Toubro are trading 3.1 percent higher at Rs 2,237. The stock is up 7.1 percent so far this year. The stock is 2.7 percent away from a 52-week high.

(Edited by : Rukmani Krishna)