You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

L&T Technology slips on profit taking

Capital Market 

Technology Services lost 2.11% to Rs 1,081.50 at 12:48 on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P Sensex was down 145.21 points or 0.44% at 32,724.51.

On the BSE, 4,311 shares were traded on the counter so far as against average daily volumes of 6,578 shares in the past one quarter. The stock had hit a high of Rs 1,096.20 and a low of Rs 1,055.05 so far during the day. The stock had hit a record high of Rs 1,124.40 on 4 December 2017 and a record low of Rs 671 on 13 June 2017.

The stock had outperformed the market over the past one month till 4 December 2017, surging 30.01% compared with the Sensex's 2.42% fall. The stock had also outperformed the market over the past one quarter, gaining 40.51% as against the Sensex's 3.68% rise. The scrip had also outperformed the market over the past one year, advancing 30.54% as against the Sensex's 25.31% rise.

The large-cap company has equity capital of Rs 20.45 crore. Face value per share is Rs 2.

Shares of Technology Services had rallied 21.14% in the preceding seven trading sessions to settle at Rs 1,104.80 yesterday, 4 December 2017, from its closing of Rs 912 on 23 November 2017.

On a consolidated basis, Technology Services' net profit rose 9.9% to Rs 123 crore on 9.5% growth in net sales to Rs 900.60 crore in Q2 September 2017 over Q2 September 2016.

Technology Services provides engineering, research and development (ER&D) services to manufacturing, technology and process engineering companies, to help them develop and build products, processes and infrastructure required to deliver products and services to their end customers.

Powered by Capital Market - Live News

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

First Published: Tue, December 05 2017. 12:49 IST