L&T soars on bagging overseas contract

DALAL STREET SPIKES

Larsen & Toubro (L&T) rose 7.03 per cent to Rs 3507.15 on the BSE after bagging an order worth Rs 311 crore from Qatar General Electricity and Water Corporation for the design, supply and commissioning of five substations at Qatar.

On February 8, 2008, L&T's construction division bagged an order worth Rs 1,107 crore from Steel Authority of India for its IISCO steel plant at Burnpur, West Bengal.

L&T's net profit rose 40.1 per cent to Rs 481.79 crore on 55.1 per cent growth in net sales to Rs 6382.68 crore in Q3 December 2007 over Q3 December 2006.