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Larsen & Toubro Gives Up Gains After Rising 1%

Shares of Larsen & Toubro gained as much as 0.88 per cent to Rs 1,217 in early trade today after the construction and engineering major announced that its subsidiary, L&T Hydrocarbon Engineering, has bagged an order worth Rs 2,450 crore from ONGC.
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Larsen & Toubro Gives Up Gains After Rising 1%
Shares of Larsen & Toubro gained as much as 0.88 per cent to Rs 1,217 in early trade today after the construction and engineering major announced that its subsidiary, L&T Hydrocarbon Engineering, has bagged an order worth Rs 2,450 crore from ONGC.

L&T Hydrocarbon Engineering, a consortium between Larsen & Toubro and McDermott, a US-based engineering and construction company, received the order from ONGC for the installation of undersea structures at ONGC's onshore facilities in Andhra Pradesh.

This is second big order for the Indian engineering conglomerate this week. On Thursday, Larsen & Toubro announced that its another subsidiary, L&T Construction, had bagged an order worth Rs 2,871 crore across businesses in both domestic and international markets.

Shares of Larsen & Turbo gave up early gains to end the day 2.19 per cent lower at Rs 1,179.85, as compared to the broad market indicator Sensex that was up 0.33 per cent.

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