World Business News

MUMBAI: Driven by efficient execution of orders, engineering and construction major Larsen & Toubro (L&T ) on Monday posted an 18% growth in net profit to Rs 992 crore for the third quarter as compared to Rs 841 crore in Q3 FY11.

Boeing Co won a $693 million contract modification to build five more C-17 transport planes for the U.S. Air Force, the Pentagon said on Monday.

The rupee strengthened past 50 to the dollar for the first time in 10 weeks on Tuesday, aided by foreign fund inflows into local stocks and debt.

Indian equities markets have started off well in 2012 with benchmark indices rallying over 8 percent in just three weeks on increased investor confidence and healthy buying appetite by overseas funds who have pumped in over $1.16 billion till Friday.