The company made this announcement during trading hours today, 21 January 2008.

Meanwhile, BSE Sensex was down 753.84 points or 3.96% to 18,259.86, as Asian markets fell after a proposed US stimulus package failed to soothe fears the US will tip into recession.

On BSE 3.06 shares were traded in the counter. The scrip had an average daily volume of 2.70 lakh shares in the past one quarter.

The stock hit a high of Rs 3930.10 and a low of Rs 3660 so far during the day. The stock hit a 52-week high of Rs 4670 on 1 November 2007 and a low of Rs 1374.90 on 5 March 2007.

The large-cap scrip had underperformed the market over the past one month till 18 January 2008, declining 1.35% compared to the Sensex’s decline of 0.78%. It had outperformed the market in the past one quarter, gaining 30% compared to Sensex’s rise of 8.28%.

The company’s current equity is Rs 58.37 crore. Face value per share is Rs 2.

The current price of Rs 3724.80 discounts Q2 September 2007 annualized EPS of Rs 48.54 by a PE multiple of 76.74.

The company has bagged this order from Kuwait National Petroleum Company against stiff international competition from Japanese and Italian reactor manufacturers. This is the largest ever order placed with any single manufacturer in the world for such critical reactors.

Larsen & Toubro (L&T) will manufacture these critical reactors in its state-of-the-art facilities at Hazira, which is one of the biggest integrated manufacturing complexes situated on a waterfront with easy access to the sea. These reactors are required to be delivered to the refinery in Kuwait by Q3 FY 2010-11.

On 10 January 2008, L&T bagged orders worth Rs 3500 crore for construction of information technology parks, hotels and malls.

On 26 December 2007, L&T’s subsidiary L&T Oman LLC secured an order worth $110.37 million from Muscat Golf Course Project LLC.

On 19 November 2007, the company secured a contract worth Rs 275 crore from Delhi Metro Railway Corporation in consortium with Shanghai Urban Construction.

L&T’s net profit rose 73% to Rs 348.02 crore on 47.4% growth in net sales to Rs 5499.94 crore in Q2 September 2007 over Q2 September 2006.

The company manufactures a wide range of engineering products like earthmoving, industrial and chemical machinery, switchgears, valves and welding alloys.