Larsen & Toubro (L&T), the capital goods major, has increased its stake in the Kalindee Rail Nirman Engineers to 14.5% from 13.93% through its investment arm — L&T Capital — from the open market.
Kalindee Rail is expected to get orders worth Rs 500 crore from the Indian Railways in coming few years. The company is also looking for a strategic alliance with L&T.