The stock slipped to a low of Rs 1,670 after touching a high of Rs 1,725. However it ended flat at Rs 1,677 with trades of around 692,210 shares on the BSE today.
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(Updated at 0958 hrs)
Larsen & Toubro is quoting at Rs 1,704, stronger by Rs 23 or 1.29%. The stock opened at Rs 1,706 and touched a low of Rs 1,690 thus far.
According to reports, Engineering giant Larsen & Toubro may exit Mahindra Satyam by starting the process of selling its 6.9% stake after a lock in period expires early next week.
The company aims to book a profit of over Rs 250 crore from the open market sale.
Meanwhile, Larsen &Toubro’s construction division has won new orders aggregating Rs1,513 crore during the second quarter of 2009-10 for construction of a high-rise tower, luxury hotel, hospital and factory building projects.
L&T bagged a Rs 621-crore contract from DB Hospitality for the construction of India Tower at Charni Road, Mumbai, and another order from the ITC Group for the construction of the ITC Sonar Hotel at Kolkata amounting to Rs 238 crore, said a press release.
L&T also secured a Rs 367-crore order from NBCC for construction of a hospital at Coimbatore and for upgrade of six hospitals at Haryana. The company also won another order worth Rs 287 crore from Arshiya International for constructing India’s first free trade warehousing zone at Sai village, Panvel, near Mumbai, said L&T.
