L&T Tech at new high

L&T Technology Services, which had closed yesterday at Rs.1840.05, opened today at Rs.1850 and went on to hit a new high at Rs.1883.45.

The market reacted positively to the news that it has been selected by a global O&G major to be the primary engineering partner to support two of their integrated refining and chemicals manufacturing facilities in USA.

This is a multi-year engagement with a potential value of more than US$ 100 Million.

Under the five-year engagement, the company will provide multi-discipline plant engineering activities including site sustenance, discipline engineering and control automation support for both facilities.