Indian Army’s artillery order worth Rs 4,900 crore may support L&T stock

Posted by admin on January 12, 2016

Larsen & Toubro, India’s largest infrastructure company, may bag an order worth $750 million (Rs 4,900 crore) to manufacture artillery guns for the Indian Army may cheer investors who hold the company’s stocks.

L&T shares have shed nearly onefourth of their value — roughly Rs 25,000 crore — in the past three months due to a weak order book as the company lost out to competitors in sectors such as road, power T&D, railways, renewable energy and water.