Stock Watch

Larsen & Toubro Ltd (L&T) has announced that the company has bagged orders worth Rs. 1107 crore from State-run steel major SAIL for the turnkey construction of Coal & Coke Handling Plant and Base Mix Preparation plant at IISCO Steel Plant at Burnpur in West Bengal. The scope of work for this order includes basic and detail engineering; supply, erection of mechanical, electrical and instrumentation works; complete civil & structural works including testing & commissioning of the same. The construction division of L&T, ECC, would execute this order and this turnkey project would be completed in 26 months. The scrip of the company slipped 3 per cent to Rs 3528.25 at the close of Friday's trading with over 8 lakh shares changing hands on the NSE. The stock markets ended lower today as investors were cautious on the last day of volatile week.