L&T gains as its arm bags contract worth Rs 2715 crore from ONGC

Larsen & Toubro Ltd. | Engineering - Construction | Construction & Infrastructure | BSE: 500510 | NSE: LT

24 Jun 2015 Evaluate

L&T is currently trading at Rs. 1770.25, up by 5.20 points or 0.29% from its previous closing of Rs. 1765.05 on the BSE.

The scrip opened at Rs. 1768.10 and has touched a high and low of Rs. 1773.95 and Rs. 1752.05 respectively. So far 76232 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1892.95 on 04-Mar-2015 and a 52 week low of Rs. 1400.00 on 08-Oct-2014.

Last one week high and low of the scrip stood at Rs. 1770.00 and Rs. 1676.65 respectively. The current market cap of the company is Rs. 164383.83 crore.

The Institutions and Non-Institutions held 52.89% and 44.82% respectively.

L&T Hydrocarbon Engineering (LTHE), a wholly-owned subsidiary of Larsen & Toubro, has bagged an offshore contract for the Bassein Development Project from the Oil & Natural Gas Corporation (ONGC) valued at Rs 2715 crore.

The Contract, won against international competitive bidding, encompasses total `EPC1' - Engineering, Procurement, Construction and Installation for the project. The scope includes one new process platform having gas processing and compression facilities, one nine-slot well head platform, topside modification on existing platforms, associated subsea pipelines and one living quarter platform in the Bassein Field in western offshore basin of India.

The project, part of ONGC's strategy to enhance the field life and increase recovery of Bassein Field, is scheduled to be completed by December 2017. The cumulative production from the field till 2027-28 is pegged at 19.56 BCM of gas, 1.97 million cubic meter of condensate and 1.83 MMT of oil.

L&T has been serving the upstream hydrocarbon sector since early the '90s. This contract reiterates the long term association of ONGC with L&T in the development of offshore fields in India. The Company's offshore track record includes successful completion of several challenging projects for domestic and international clients.

Larsen & Toubro Share Price

3891.60 -82.00 (-2.06%)

11-May-2026 10:54 View Price Chart

Peers

Company Name	CMP
Larsen & Toubro	3891.60
Rail Vikas Nigam	297.05
NCC	165.85
KEC International	586.70
Kalpataru Projects	1267.65
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