Engineering firm Larsen & Toubro (L&T) today said it bagged contracts worth Rs 2,521 crore in its building and factories business in both domestic as well as international markets this month.

The company's overseas subsidiary L&T Oman from the ministry of transport and communications, Sultanate of Oman, has secured an order for the construction of a new passenger terminal at Duqm Airport in Oman, a release issued here said.

Shares in Larsen and Toubro (L&T) were trading higher by nearly 1% at Rs 1,502 on NSE after the company said it has bagged an offshore contract valued at Rs 894 crore from the Oil & Natural Gas Corporation (ONGC).

L&T Hydrocarbon Engineering (LTHE), a fully owned subsidiary of Larsen & Toubro, has bagged an offshore contract valued at Rs 894 crore from the Oil & Natural Gas Corporation (ONGC) for additional development of the Vasai East project, L&T said in a press release.

The L&T group has come forward to invest in solar and wind power projects in Andhra Pradesh.

L&T Financial Holdings Limited chairman and managing director YM Deosthali, who met chief minister N Chandrababu Naidu, has sought further clarity on the government's wind power policy in this regard, according to the chief minister's office.

Larsen And Toubro, the capital goods major, has seen more than 10% correction in its stock price as concerns over plummeting oil prices impacting its order flow from Middle East have increased.

Out of around Rs 50,000 crore overseas order flows L&T bagged since FY13, Rs 43,750 crore is spread across Qatar, Saudi Arabia, Oman Kuwait and Abu Dhabi. So, the market concerns are valid. However, the same have been over-exaggerated, feel analysts.

Markets opened higher, amid firm global cues, with bank and IT shares leading the gains in early trades.

At 9:30AM, the 30-share Sensex was up 269 points at 27,395 and the 50-share Nifty was up 77 points at 8,236.

Canada Pension Plan Investment Board (CPPIB) has completed its initial Rs 1,000-crore investment in Larsen & Toubro Infrastructure Development Projects (L&T IDPL). The two companies had signed an agreement in June and the investment was concluded on Tuesday.

According to the agreement, CPPIB will invest the second tranche of (a minimum of) Rs 1,000 crore after 12 months. This is the first direct investment by the Canadian pension plan in an Indian infrastructure company.

India's equity mutual fund managers have kept their top-10 picks almost intact through 2014, barring three stocks. Despite being giants in their respective sectors, the three failed to make it to the most-invested stocks this year, said Value Research.

The three are telecom giant Bharti Airtel, fast-moving consumer goods major ITC and Housing Development Finance Corporation.

Benchmark share indices remained rangebound after the first hour of trade as gains in Bharti Airtel and index heavweight Reliance Industries helped offset losses in IT majors and HDFC.

At 10:45AM, the 30-share Sensex was up 64 points at 28,242 and the 50-share Nifty was up 12 points at 8,443.

Infrastructure major Larsen and Toubro (L&T Limited), which was not ready to accept the request of the Telangana government a few months ago to change the metro rail alignment, has finally agreed to change it in three locations.

According to the new changes, the track, which was earlier planned in front of the old Assembly building, will now go from behind the Assembly building.

Markets recovered from day lows as strength in Infosys, L&T and Sun Pharma managed to cap losses in HDFC twins, TCS and Bharti Airtel. At 1045 hrs, the Sensex was down 185 points at 27,994 and the Nifty was down 13 points at 8,370.

However, the broader markets gave off their morning gains and turned flat with a positive bias. The midcap index was up 0.2% while the smallcap index was near yesterday's close.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.