Infra cos to see execution pick up in Q4, rising costs a concern: Nomura Nomura warned that lockdowns in some cities and states because of the sharp rise in COVID-19 cases could arrest the momentum seen in new orders. BusinessToday.In | April 26, 2021 | Updated 11:56 IST L&T, KEC International, and road construction companies are likely to report a pick-up in execution during the March quarter. Infrastructure companies are likely to report a pick-up in orders and execution in January-March quarter of the fiscal year 2020-21, but rising commodity costs and ocean freight rates could hit their margins, brokerage firm Nomura said in a report.