L&T Shares Hit Record High on $10B Saudi Aramco Contract for Gas Project

L&T shares hit record high after winning $10B contract from Saudi Aramco for gas project
Contract is for Phase II of Jafurah unconventional gas development
Accounts for 13% of L&T's FY24 order inflow guidance of 10-12% growth
Saudi Aramco guiding for higher capex of $45-55B in 2023 vs $37.6B in 2022
L&T stock up 1.7%, market cap crosses ₹4 lakh crore
Order reinforces positive outlook and potential for L&T to exceed order guidance

bqprime.com

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9/7/2023

India's L&T sees share of private orders settle at a third but remain below peak

India's largest capital goods company, Larsen & Toubro (L&T), expects private sector projects to contribute about a third of its orderbook as investment activity increases, but this is still below the historical peak of 40%, according to CFO R. Shankar Raman.