Scrip of L

Mumbai, June 12 (UNI) The scrip of heavy engineering major Larsen&Toubro (L&T) today rose by 0.90 per cent to Rs 1,907 on the Bombay Stock Exchange (BSE) after bagging two orders from Oil&Natural Gas Corporation (ONGC) and Steel Authority of India (SAIL).

L&T said ONGC awarded a Rs 877 crore turnkey project for the NQ Re-construction (NQRC) project in Mumbai High north fields. The project is the largest brownfield project of its kind awarded in the offshore oil and gas sector in India. The company said the project will be executed on a lumpsum turnkey basis with the completion scheduled by May 8, 2009.

Earlier in the day, L&T had also announced that the engineering, procurement and construction and contracts division of the company had secured a Rs 114.43 crore order from SAIL for the turnkey construction of 220/132- kilo vatt gas insulated substation and associated transmission network for its Bhilai steel plant in Chhattisgarh.

UNI