Shares of engineering and construction conglomerate Larsen & Toubro rose over 2 per cent in early trade on Bombay Stock Exchange (BSE) on media reports that the company has emerged as a successful bidder for the Batinah road project (package 4) in the northwest of Oman.
According to media sources, the estimated cost of the Oman road project is around Rs 2,100 crore with the construction period of two years.
Cheering the news, shares of company gained as much as 2.04 per cent to trade at Rs 1,421.10 a piece on the BSE.
In a similar fashion, shares of the company spurted 1.82 per cent to Rs 1,418.00 a piece on National Stock Exchange.
Meanwhile, the broader benchmark Sensex was quoting at 19,266.64, up 88.88 points or 0.46 per cent at 10:05 hours.