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L&T gains after order win

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rose 0.36% to Rs 1,684 at 14:27 on after the company said that its construction arm bagged orders worth Rs 2694 crore across various business segments.

Meanwhile, the S&P Sensex was down 42.75 points, or 0.15% to 29,418.70.

On the BSE, 43,000 shares were traded in the counter so far, compared with average daily volumes of 1.50 lakh shares in the past one quarter. The stock had hit a high of Rs 1,688.50 and a low of Rs 1,671.35 so far during the day. The stock hit a 52-week high of Rs 1,719.45 on 7 April 2017. The stock hit a 52-week low of Rs 1,210 on 18 April 2016.

The stock had outperformed the market over the past one month till 13 April 2017, rising 8.45% compared with 0.22% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 16.66% as against Sensex's 8.16% rise.

The large-cap company has equity capital of Rs 186.65 crore. Face value per share is Rs 2.

The construction arm of has won orders worth Rs 2694 crore across various business segments, said.

While its water and effluent treatment vertical has secured Rs 2227-crore orders, the smart world communications business bagged a contract of Rs 180 crore from Greater Visakhapatnam Smart City Corporation.

The company's transportation infrastructure business has received an order worth Rs 287 crore for a road project in Maharashtra.

L&T's consolidated net profit rose 38.9% to Rs 972.47 crore on 1.7% growth in net sales to Rs 26018.15 crore in Q3 December 2016 over Q3 December 2015.

L&T Construction is a brand of L&T. L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 17 2017. 14:31 IST