MUMBAI (Commodity Online): Infrastructure solutions provider and equipments maker, Larsen & Toubro (L&T) today traded with an upbeat mood as the company won an order worth Rs.6897 crore from Maharashtra State Power Generation Company.

The company stocks traded at Rs.1590 up by 1.5% in the morning trading session on the Bombay Stock Exchange (BSE) today. Company made this announcement befire market hours today.

Pay low, earn more through Commodity Trading Tips

However, the benchmark index, Sensex traded weak at the start of the trading day, but later recovered from its early losses and traded at 15852 points marginally down by 0.2% from its Monday’s close.

The stock hit a high of Rs.1579 and a low of Rs.1554.20 so far during the day. The stock had outperformed the market in past one quarter, rising 5.21% as against 3.30% rise in the Sensex.

India's largest engineering company's net profit rose 26.10% to Rs.580.40 crore on 3.54% rise in total income to Rs.8136.39 crore in Q2 September 2009 over Q2 September 2008. The company declared the results on 22 October 2009.

L&T attributed the muted sales growth to delay in clearances of infrastructure projects from some clients and lower off take of industrial and machinery products. The company said order backlog is at Rs.81623 crore, which is 2.4 times its revenue of Rs.33926.37 crore in the year ended March 2009, giving strong revenue visibility.

L&T said the recent surge in crude oil prices may boost orders from the hydrocarbon sector. The company said revival of infrastructure development in the Gulf region augurs well as the company has a significant presence in the region.

L&T had on 9 October 2009 said it raised Rs.1872.79 crore through issuing 1.12 crore equity shares at Rs.1659.30 per share.
On the same day, the company also launched an offering of foreign currency convertible bonds (FCCBs) for an aggregate amount of up to USD 200 million.

L&T had on 6 October 2009 said its construction division won orders worth Rs.1513 crore in Q2 September 2009. The engineering conglomerate said the orders include construction of a luxury hotel, several hospitals and factories and a residential tower.

L&T had on 24 September 2009 company bagged an order worth more than Rs.2000 crore from GMR Energy for setting up a gas-based power plant in Andhra Pradesh.