Larsen & Toubro gains as hydrocarbon engineering segment bags significant contract from ONGC

Larsen & Toubro shares rose a percent in morning on Friday after its hydrocarbon engineering segment bagged a significant contract from ONGC.

The stock was quoting at Rs 1,357.45, up Rs 6.20, or 0.46 percent on the BSE, at 09:40 hours IST.

"The engineering, procurement, construction, installation and commissioning (EPCIC) contract is for development of Cluster-8 marginal field which is part of Mumbai High Asset located about 210 km to the west of Mumbai city," the engineering major said in its filing.

Project scope includes EPCIC of three (03 Nos.) well head platforms, one (01 No.) bridge connected well head cum riser platform, -59 km pipelines, 3 nos. of clamp-on structure and modification work on two existing platforms.

Organised under offshore, onshore, construction services, modular fabrication and engineering services verticals, L&T Hydrocarbon Engineering delivers 'design to build' engineering and construction solutions across the hydrocarbon spectrum.