L&T bags Rs. 1,000 cr project from ONGC

Engineering major Larsen & Toubro (L&T) on Wednesday said it has bagged a project worth Rs. 1,013 crore from Oil & Natural Gas Corporation (ONGC).

The company has bagged the contract for four well platforms for the Mumbai High North Re-development Project, L&T said in a filing to Bombay Stock Exchange (BSE).

The scope of the contract includes engineering, procurement and installation of these platforms, the filing said.

The Mumbai High field has been operational since 1974 and ONGC is currently in the process of ramping up production.

Shares of L&T were trading at Rs. 1,622.50 on BSE, up 1.55 per cent from its previous close.