L&T nears 52-week high as it secures orders worth Rs 18,549 cr in March

Thus far in March, the stock outperformed the market by gaining 8% as compared to 3% rise in Sensex

Larsen & Toubro (L&T) was up 2% at Rs 1,583, its highest level since August 1, 2016 on BSE, after the company has secured more than Rs 18,000 crore new orders in the month of March.

The stock of construction & engineering major is quoting close to its 52-week high of Rs 1,615 touched on July 27, 2016 in intra-day trade.

Thus far in the current month, it outperformed the market by gaining 8% as compared to 3% rise in the S&P BSE Sensex.

L&T has secured orders worth of Rs 18,549 crore during the month of March, according to data culled from the stock exchanges announcements.  In current week alone, L&T has secured orders amounting of Rs 14,223 crore from various segments.

Date	Amt in Rs cr
03/03/2017	2,170
16/03/2017	500
20/03/2017	1,656
27/03/2017	705
27/03/2017	2,490
28/03/2017	2,903
29/03/2017	2,400
30/03/2017	4,000
30/03/2017	1,725
Total	18,549

On Thursday, March 30, L&T announced that it win orders worth of Rs 5,725 crore. 

“L&T Hydrocarbon Engineering, a wholly-owned subsidiary of L&T, has won orders totalling close to Rs 4,000 crore in the international market, while its construction arm, L&T Construction has recently bagged orders worth Rs 1,725 crore across two of its business segments,” L&T said in a BSE filing.

At 12:26 pm; the stock was up 1.4% at Rs 1,580 on BSE as compared to 0.18% decline in the S&P BSE Sensex. A combined 880,888 shares changed hands on the counter on BSE and NSE.