India, Oct. 7 -- The diversified engineering major Larsen & Toubro has picked up an early signal to start work on a large power project in eastern India. Its CarbonLite Solutions arm will supply the core generating equipment for a thermal plant being developed by a venture of two public-sector bodies. The go-ahead is conditional, though, and the full start depends on approvals still pending. It landed just after a recent quarter in which the company's conventional energy orders dropped about 90 percent year on year.

Shares of Larsen & Toubro Ltd are trading at Rs. 3,701.50, down 1.82 percent on Wednesday. The stock touched the intraday high of Rs. 3,758.10 after opening at Rs. 3,750.00 before slipping to a low of Rs. 3,684.60. The compan...