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The contract covers engineering, procurement, construction, installation and commissioning for the project LATEST NEWS :  L&T Hydrocarbon Engineering has secured a Rs 14.83 billion offshore contract from ONGC. "L&T Hydrocarbon Engineering, a wholly-owned subsidiary of Larsen and Toubro, has signed an offshore contract for the 'Bassein Development 3 Well Platform and Pipeline Project' with Oil and Natural Gas Corporation (ONGC) valued at approximately Rs 14.83 billion," Larsen and Toubro stated in a BSE filing on Friday. The project, part of ONGC's strategy to jointly develop three small and marginal fields/blocks under 'Bassein Development 3 Well Platform and Pipeline Project', is scheduled to be completed by May 2019. The contract covers engineering, procurement, construction, installation and commissioning for the project. The stock of Larsen and Toubro was trading 0.39 per cent up at Rs 1,320.50 on the BSE. ALSO...

The first phase comprises 30 km and 24 stations LATEST NEWS  : Larsen&Toubro has sought "additional financial support" from Telangana to cover cost overruns in the Rs 16,000-crore metro rail project that stemmed from delays in its implementation, sources privy to the development said. Prime Minister Narendra Modi is scheduled to inaugurate the first phase of the 72-km project tomorrow, touted to be the world's largest such project on public-private partnership in the sector. L&T Metro Rail (Hyderabad) Ltd, the developer of the project, has sought "additional financial support" from the Telangana government to cover the cost overruns due to delays in projects, leading to an extension of time, the sources said. The cost overruns work out to over Rs 3,000 crore, the sources added. "The company is also learnt to have sought an extension period of two years," an industry source said, adding that any decision is likely afte...

The stock hit a 52-week high of Rs 1,260, up 3.5% on the BSE, trading close to its all-time high of Rs 1,262 touched on March 4, 2015 in intra-day trade. LATEST NEWS :  Larsen & Toubro (L&T) hit a 52-week high of Rs 1,260, up 3.5% on the BSE after the company said its construction arm has won orders worth Rs 4,023 crore across various business segments. The stock is trading close to its all-time high of Rs 1,262 touched on March 4, 2015 on the BSE in intra-day trade. A combined 1.59 million shares changed hands on the counter on the BSE and NSE till 10:52 AM. L&T said its heavy civil infrastructure business has bagged orders cumulatively worth Rs 1,906 crore including a major government order worth Rs 1,824 crore in a joint venture with an international partner – Seaport Dredging Private Limited, for the construction of various marine facilities. Building & factories business has bagged an order worth of Rs 830 crore, while water & efflue...