L&T inches up after new order

L&T rose 0.87% to Rs 1,503 at 9:53 IST on BSE after the company said its fully owned subsidiary L&T Hydrocarbon Engineering secured an offshore contract valued at Rs 894 crore from ONGC.

The order was announced during market hours today, 29 December 2014.

Meanwhile, the S&P BSE Sensex was up 186.42 points or 0.68% at 27,428.20.

On BSE, so far 21,000 shares were traded in the counter as against average daily volume of 1.69 lakh shares in the past two weeks.

The stock hit a high of Rs 1,506 and a low of Rs 1,493.55 so far during the day.

L&T Hydrocarbon Engineering (LTHE), a fully owned subsidiary of L&T bagged an offshore contract valued at Rs 894 crore from ONGC for additional development of the Vasai East project.

L&T's consolidated net profit rose 6.9% to Rs 861.75 crore on 10.6% growth in net sales to Rs 21159.35 crore in Q2 September 2014 over Q2 September 2013.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services, with global operations.

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