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India's industrial group Larsen & Toubro is betting on state spending on infrastructure building to boost growth, a top executive said on Friday. Larsen, however, cut its new orders forecast to flat growth in the current fiscal year from its October prediction of a 5-7 percent rise, due to sluggish capital spending in the private sector. Larsen, which has interests in engineering, construction and logistics, has seen slower earnings growth in recent quarters, as its customers in India, its biggest market, keep a lid on fresh investment in the absence of strong demand.
Mumbai, Jan 12 (IANS) Diversified company Larsen & Toubro on Tuesday announced its construction arm L & T Construction and Larsen & Toubro (Oman) LLC have won contracts worth Rs.1,247 crore. "The ...
Industrial group Larsen & Toubro Ltd(LART.NS) has halved the growth it expects in its order book in the current financial year, reflecting weakness in its home market and undermining hopes of a pick-up in economic activity. "The numbers are not great," said Motilal Oswal Securities analyst Ravi Shenoy.