The recent 1,000 point correction in the S&P BSE Sensex from its record high has seen 109 stocks from BSE-500 index hit their respective three-month low level.

Reliance Industries, Hindalco Industries, Tata Steel, Larsen and Toubro, BHEL, DLF, Tata Power Company, Reliance Infrastructure, Cairn India and Reliance Capital are among few notable shares touched three-month low on BSE during the current week.

Engineering and construction major Larsen & Toubro today said it has bagged new orders worth Rs 1,577 crore in September including those for building two residential towers in Mumbai.

"The construction arm of L&T has won new orders worth Rs 1,577 crores across various business segments in September 2014," an official statement said.

The L&T management on Wednesday reiterated its commitment to complete the Rs 16,000-crore Hyderabad Metro Rail project “expeditiously as per schedule” after local newspapers published reports stating the concessionaire had informed the government its intent to exit from the public-private partnership project owing to several issues, including the change in status of Hyderabad post bifurcation.

In 1987, a move by Manu Chhabria to pick up a one per cent stake in Larsen & Toubro (L&T) triggered multiple controversies that ended only 16 years later in 2003, after many riveting political and boardroom dramas. By then, two of the corporate protagonists were dead and employees of the giant engineering conglomerate had taken charge of its destiny

Realty major DLF, engineering behemoth Larsen and Toubro (L&T) and FMCG (fast moving consumer goods) giant ITC are among the eight ‘conviction ideas’ of Goldman Sachs according to a September 2014 report.

Grasim Industries, IndusInd Bank, Petronet LNG, Voltas and Tech Mahindra are other stocks in this list, where the upside from closing price levels of September 4, 2014 over the next 12 months could range between 1.4 and 74.5 per cent, the report says.

Shares of L&T have gained nearly 1% to Rs 1,623 on the BSE after the company said its wholly owned subsidiary L&T Hydrocarbon Engineering (LTHE) has secured new orders in the offshore and onshore segments worth Rs 1920 crore from domestic oil and gas majors.

An offshore contract worth Rs 1340 crore from Oil & Natural Gas Corporation (ONGC), includes engineering, procurement, construction and installation of five wellhead platforms at the Mumbai High North field of ONGC. The project is scheduled for completion by March 2016, L&T said in a statement.

Engineering conglomerate L&T has gained over 1% to Rs 1610 on the BSE in the early morning trades after the company secured a turnkey order worth Rs 5,100 crore for setting up a 1320 MW supercritical thermal power plant project at Shree Sinaji TPP (Stage-II) on complete engineering-procurement construction basis from the state utility MP Power Genertaing Company Limited (MPPGCL)

Hyderabad: Larsen and Toubro Ltd (L&T), which is building the Rs.16,375 crore Hyderabad Metro Rail project, said on Tuesday it is facing a cost overrun of as much as Rs.3,000 crore on account of high interest cost and delays in execution.

“The project is at a critical stage,” said V.B. Gadgil, chief executive and managing director of L&T Hyderabad Metro Rail Pvt. Ltd, the unit that’s executing the metro rail project.

Markets continue to trade near their day's highs in late morning deals with capital goods and bank shares leading the gains on better-than-expected GDP growth in the first quarter ended June 30, 2014.

At 11:50AM, the 30-share Sensex was up 168 points at 26,808 and the 50-share Nifty was up 56 points at 8,010.

L&T Infra Finance has signed an agreement with Lavasa Corporation, a subsidiary of HCC group, for purchase of 20.23 hectares of land, with a development potential of 500,000 sq ft at Mugaon town in Pune's Lavasa City.

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