L&T Bags Order Worth Rs. 1483 Crore From ONGC, Scrip Hits 52-week High

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After bagging an order worth Rs. 1483 crore from ONGC, the stock of L&T in intraday trade on Friday reached a 52-week high of Rs. 1328 with gains of 1% against the closing price of Rs. 1315.4 of Thursday.

 L&T Bags Order Worth Rs. 1483 Crore From ONGC, Scrip Hits 52-week High

The contract was been won over by the company's subsidiary form, L&T Hydrocarbon Engineering, which has entered into an offshore agreement with ONGS for development of bassein.

The project encompasses 3 novel platforms, composite subsea power cable, clamp-on work and overhauling contract for 9 existing platforms in addition to 23-km subsea pipeline. The project under Bassein development 3 Well platform project is slated be completed by May of 2019.

At 12:15 hrs Larsen & Toubro was trading lower at Rs. 1313.50 on the BSE.

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