On Tuesday, Larsen & Toubro (L&T) shares upsurged more than 2% after the multinational company bagged major offshore orders from an external client for its hydrocarbon business.

The company estimates the order value of Rs 5,000 to 7,000 crore as major orders.

At 11:43 am, shares of the business traded 1.7% higher at Rs 2,214.75 per share on the Bombay Stock Exchange. L&T’s stock has rallied 26% in the previous year and has soared over 150% in the preceding three years.

“The scope of work encompasses procurement, engineering, construction & installation of offshore constructions and upgradation of prevailing facilities,” the Engineering, Procurement, and Construction (EPC) major said in an exchange filing.

The company chiefly functions in infrastructure, power, hydrocarbon, heavy engineering, defence engineering, and services business segments. The infrastructure segment contributes around 45% to combined proceeds, followed by services which aggregate about 30%.

Analysts said L&T’s robust order book of Rs 3,72,381 crore recommended good revenue visibility in future years.