You are here: Home » Markets » News
Business Standard

L&T hits 21-month high post Q4 results, 1:2 bonus share plan

The stock hit high of Rs 1,834, up 2.6% on BSE, its highest level since August 10, 2015.

SI Reporter  |  Mumbai 

A sign of Larsen and Toubro (L&T) is placed on a road divider in Mumbai
A sign of Larsen and Toubro (L&T) is placed on a road divider in Mumbai

(L&T) hit 21-month high of Rs 1,834, up 2.6% on the BSE in early morning trade, after the company beat market expectation with a 29.5% growth in consolidated net profit for the Q4FY17, at Rs 3,025 crore compared with Rs 2,335 crore for the corresponding quarter of the previous year. The stock hit its highest level since August 10, 2015.

The company’s consolidated revenue for the quarter increased by 12% to Rs 36,828 crore over the previous year quarter. Analysts on an average had expected profit of Rs 2,763 crore on revenues of Rs 33,717 crore for the quarter. The engineering and infrastructure giant’s consolidated order book stood at Rs 2.61 lakh crore as of 31 March, an increase of 5% from a year earlier.


Meanwhile, the board of approved issue of shares to the holders of equity shares of the Company in the ratio of 1:2 (i.e. one equity share of Rs 2 each for every two fully paid equity shares of Rs 2 each held). The board also recommended a dividend of Rs 21 per share (previous year Rs 18.25 per share), pre bonus, for the financial year 2016-17.

“The management has guided for a strong double-digit growth in order inflows and revenue for FY2018. The management has announced a issue in the ratio of 1:2 on the back of the strong business outlook,” Sharekhan said in stock update.

The brokerage firm revised rating on the stock to ‘Hold’ from ‘Buy’ due to the sharp run-up in the stock price. It has not considered the impact of equity dilution due to the share announcement.

Thus far in the calendar year 2017, the stock had outperformed the market by surging 33% as compared to 17% rise in the S&P BSE Sensex till Monday. At 09:44 am; it was trading flat at Rs 1,789, after hitting low of Rs 1,769 on BSE in intra-day trade. A combined 2.18 million shares changed hands on the counter on BSE and NSE so far.
 

RECOMMENDED FOR YOU

L&T hits 21-month high post Q4 results, 1:2 bonus share plan

The stock hit high of Rs 1,834, up 2.6% on BSE, its highest level since August 10, 2015.

The stock hit high of Rs 1,834, up 2.6% on BSE, its highest level since August 10, 2015.
(L&T) hit 21-month high of Rs 1,834, up 2.6% on the BSE in early morning trade, after the company beat market expectation with a 29.5% growth in consolidated net profit for the Q4FY17, at Rs 3,025 crore compared with Rs 2,335 crore for the corresponding quarter of the previous year. The stock hit its highest level since August 10, 2015.

The company’s consolidated revenue for the quarter increased by 12% to Rs 36,828 crore over the previous year quarter. Analysts on an average had expected profit of Rs 2,763 crore on revenues of Rs 33,717 crore for the quarter. The engineering and infrastructure giant’s consolidated order book stood at Rs 2.61 lakh crore as of 31 March, an increase of 5% from a year earlier.

Meanwhile, the board of approved issue of shares to the holders of equity shares of the Company in the ratio of 1:2 (i.e. one equity share of Rs 2 each for every two fully paid equity shares of Rs 2 each held). The board also recommended a dividend of Rs 21 per share (previous year Rs 18.25 per share), pre bonus, for the financial year 2016-17.

“The management has guided for a strong double-digit growth in order inflows and revenue for FY2018. The management has announced a issue in the ratio of 1:2 on the back of the strong business outlook,” Sharekhan said in stock update.

The brokerage firm revised rating on the stock to ‘Hold’ from ‘Buy’ due to the sharp run-up in the stock price. It has not considered the impact of equity dilution due to the share announcement.

Thus far in the calendar year 2017, the stock had outperformed the market by surging 33% as compared to 17% rise in the S&P BSE Sensex till Monday. At 09:44 am; it was trading flat at Rs 1,789, after hitting low of Rs 1,769 on BSE in intra-day trade. A combined 2.18 million shares changed hands on the counter on BSE and NSE so far.
 

image
Business Standard
177 22

L&T hits 21-month high post Q4 results, 1:2 bonus share plan

The stock hit high of Rs 1,834, up 2.6% on BSE, its highest level since August 10, 2015.

(L&T) hit 21-month high of Rs 1,834, up 2.6% on the BSE in early morning trade, after the company beat market expectation with a 29.5% growth in consolidated net profit for the Q4FY17, at Rs 3,025 crore compared with Rs 2,335 crore for the corresponding quarter of the previous year. The stock hit its highest level since August 10, 2015.

The company’s consolidated revenue for the quarter increased by 12% to Rs 36,828 crore over the previous year quarter. Analysts on an average had expected profit of Rs 2,763 crore on revenues of Rs 33,717 crore for the quarter. The engineering and infrastructure giant’s consolidated order book stood at Rs 2.61 lakh crore as of 31 March, an increase of 5% from a year earlier.

Meanwhile, the board of approved issue of shares to the holders of equity shares of the Company in the ratio of 1:2 (i.e. one equity share of Rs 2 each for every two fully paid equity shares of Rs 2 each held). The board also recommended a dividend of Rs 21 per share (previous year Rs 18.25 per share), pre bonus, for the financial year 2016-17.

“The management has guided for a strong double-digit growth in order inflows and revenue for FY2018. The management has announced a issue in the ratio of 1:2 on the back of the strong business outlook,” Sharekhan said in stock update.

The brokerage firm revised rating on the stock to ‘Hold’ from ‘Buy’ due to the sharp run-up in the stock price. It has not considered the impact of equity dilution due to the share announcement.

Thus far in the calendar year 2017, the stock had outperformed the market by surging 33% as compared to 17% rise in the S&P BSE Sensex till Monday. At 09:44 am; it was trading flat at Rs 1,789, after hitting low of Rs 1,769 on BSE in intra-day trade. A combined 2.18 million shares changed hands on the counter on BSE and NSE so far.
 

image
Business Standard
177 22