THE success story of Larsen and Toubro acquired a new angle with the modest announcement that, far from being hurt by the recession, it was doing better than over before, thank you. How is L & T in such good cheer when other equipment manufacturers are shedding copious tears? It holds no secret patents and its operations arc mostly in competitive markets. L & T owes its triumph to hand-picked professional management teams which built up enough know-how to seize the opportunities offered by new markets and new technology, and enough business sense to safeguard capital investment against excessive specialisation in the manufacture of a few products. Its fabrication capa city is designed