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L&T bags international orders worth US$889mn
Larsen & Toubro (L&T) has bagged international orders aggregating to US$889mn in the
hydrocarbon segment from UAE and Thailand. The first order worth US$189mn for a gas
pipeline project is from Abu Dhabi Gas Industries Ltd., UAE. The second order from UAE is
for US$450mn from ADMA-OPCO, a major producer of oil and gas for UAE. Lastly, order
worth US$250mn is from PTTEP International Ltd., a subsidiary of PTT Public Company
Ltd., Thailand. L&T’s outstanding order book as on June 30, 2011, stood at ~`1,36,172cr
(3.1x FY2011 revenue), providing revenue visibility. We recommend a Buy rating on the
stock; however, the target price is currently under review.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
L&T bags international orders worth US$889mn
Larsen & Toubro (L&T) has bagged international orders aggregating to US$889mn in the
hydrocarbon segment from UAE and Thailand. The first order worth US$189mn for a gas
pipeline project is from Abu Dhabi Gas Industries Ltd., UAE. The second order from UAE is
for US$450mn from ADMA-OPCO, a major producer of oil and gas for UAE. Lastly, order
worth US$250mn is from PTTEP International Ltd., a subsidiary of PTT Public Company
Ltd., Thailand. L&T’s outstanding order book as on June 30, 2011, stood at ~`1,36,172cr
(3.1x FY2011 revenue), providing revenue visibility. We recommend a Buy rating on the
stock; however, the target price is currently under review.
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