L&T rose 0.55% to Rs 1,212.95 at 09:21 IST on BSE after the company's fully owned subsidiary in consortium bagged an offshore contract from ONGC.
Meanwhile, the BSE Sensex was up 216.38 points, or 0.87%, to 25,068.21
On BSE, so far 24,412 shares were traded in the counter, compared with an average volume of 2.19 lakh shares in the past one quarter. The stock hit a high of Rs 1,217 and low of Rs 1,209 so far during the day. The stock had hit a 52-week low of Rs 1,200 yesterday, 7 January 2016. The stock hit a record high of Rs 1,892.95 on 4 March 2015.
The large-cap company has an equity capital of Rs 186.24 crore. Face value per share is Rs 2.
L&T announced after market hours yesterday, 7 January 2016, that L&T Hydrocarbon Engineering (LTHE), a fully owned subsidiary of the company, in consortium with McDermott has bagged an offshore contract from ONGC valued at Rs 2450 crore for the development of ONGC's Vashista and S1 deepwater fields situated off the East Coast of India. LTHE's share in the consortium is Rs 640 crore. The contract encompasses complete EPCI work - engineering, procurement, construction and installation - of major subsea facilities in ONGC's deepwater fields, L&T said.
L&T Hydrocarbon Engineering provides complete EPCI solutions for the offshore oil and gas industry.
On a consolidated basis, L&T's net profit rose 15.6% to Rs 995.90 crore on 10.6% growth in net sales to Rs 23393.22 crore in Q2 September 2015 over Q2 September 2014.
L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services, with global operations. Its products and systems are marketed in over 30 countries worldwide.
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