The electrical and automation division of Larsen & Toubro has seen headwinds in the last year with negligible order inflows in India. Business degrew 6 percent in the last year. However, with overseas orders saving the day for L&T, the company is hopeful of the business picking up in fiscal year 2015.

L&T’s senior VP S C Bhargava told CNBC TV18 that the electrical and automation division is eyeing revenues of Rs 5000 crore in FY14 and is hopeful or stronger FY15. Malaysia, Dubai and Qatar are key focus markets for the division as major infrastructure growth in Middle East is pushing order inflows up. “Two-third of our business comes from GCC countries,??? Bhargava added.

Investors have been buying shares of Godrej Properties for the fifth consecutive session today on launching projects in Chennai and Pune. The stock climbed over 2 percent today, in addition to 8 percent rally in previous four sessions. The Mumbai-based real estate developer has entered into a partnership with SSPDL Green Acres LLP to develop a residential project at Old Mahabalipuram Road in Chennai.

The proposed project is spread over seven acres and it will offer approximately 93000 square meters (one million square feet) of saleable area comprising 1, 2 and 3 BHK apartments. Meanwhile, the company on March 26 also entered into a partnership to develop a residential project in Pune that spread over 43 acres.

The rupee is trading at 8-month high of 60.07 against dollar, up 23 paise today following strength in equity markets. If it breaches 60-mark, then it will be for the first time since July 30, 2013. The domestic currency gained 2.9 percent or 179 paise in current month so far while it appreciated 5.2 percent or 332 paise from low of 63.32 a dollar on January 27. It gained 12.8 percent or 880 paise from its all-time low of 68.80 on August 28, 2013.

Nifty has already rallied 2 percent this week perhaps on the hopes of a NDA government coming to power. Market expert Sandip Sabharwal advises investors who have already entered the market to ride the rally, but says those who have not entered yet should wait out and enter post elections.

The Sensex rose 49.03 points to 22263.40 and the Nifty climbed 21 points to 6662.75. About 1233 shares have advanced, 534 shares declined, and 82 shares are unchanged.