Stock markets in India trimmed some of their morning losses and are now trading slightly lower amid weak global cues and as Rupee hit its record low against the dollar. Losses are largely seen in bank stocks and PSU stocks.

The BSE Sensex is trading down by 140 points and the NSE Nifty is trading down by 40 points. Meanwhile, the BSE Mid Cap index is trading down by 0.2% while, the BSE Small Cap index is trading down by 0.4%.

In news from the engineering sector. As per an article in a leading financial daily, Larsen & Toubro’s (L&T) construction arm, L&T Construction’s Buildings & Factories Business has bagged an Engineering, Procurement and Construction (EPC) order worth Rs 30.3 billion from GMR Hyderabad International Airport (GHIAL).

The scope of work includes execution and implementation of EPC for expansion of the Terminal Building and Airside Infrastructure Works at the Rajiv Gandhi International Airport, Hyderabad in the state of Telangana.

The expansion will increase the airport’s capacity to handle 34 million passengers per annum (MPPA). L&T had earlier constructed the existing Hyderabad International Airport.

Notably, diversification continues to help L&T negotiate and get better terms and margins for projects. Apparently, this is because it is less desperate to win orders as compared to a company which are present in only a couple of sectors. Its reputation, extensive technical prowess, and large skilled workforce have enabled L&T to command a certain premium from customers and vendors alike.

To know more about the company, you can access to L&T’s latest result analysis and L&T’s 2017-18 Annual Report Analysis on our website. Whether, a further addition to these new projects provides a cushion to its profitability will be an interesting thing to watch out for going forward.

At the time of writing, L&T share price was trading up by 0.4%.