Business Standard

October 21: The lensman`s view

A worker fastens iron rods together at the construction site of a bridge on Srinagar-Jammu national highway in the outskirts of Jammu

Indian engineering conglomerate Larsen & Toubro on Friday slashed its order growth guidance for the current fiscal year on slowing investments and rising competition, sending its shares down more than 4%.

L&T, which operates in industries as diverse as engineering, shipbuilding and software, said it expected new orders to grow just 5% for the fiscal year ending March 2012, down from its earlier forecast of at least 15%.

(Pictures by Reuters)

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