L&T advances after winning orders

Larsen & Toubro rose 1.05% to Rs 1,529.15 at 11:37 IST on BSE after the company said that its construction arm was awarded contracts for various businesses.

Meanwhile, the S&P BSE Sensex was up by 100.21 points or 0.25% at 39,716.11.

On BSE, 46,000 shares were traded in L&T counter, compared to a two-week average of 2.06 lakh shares. The share price hit an intraday high of Rs 1,541 and an intraday low of Rs 1,525. It hit a 52-week high of Rs 1,606.70 on 28 May 2019 and a 52-week low of Rs 1,183.40 on 23 October 2018.

Larsen & Toubro (L&T) announced during trading hours today, 10 June 2019, that its construction arm L&T Construction has secured orders from clients across various Indian states for its varied businesses. The company said the orders fall under "large" category which ranges between Rs 2500 crore and Rs 5000 crore as per its classification of contracts.

L&T's consolidated net profit increased by 13.5% to Rs 3788.89 crore on a 10.86% increase in net income to Rs 45555.29 crore in Q4 March 2019 over Q4 March 2018.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $20 billion in revenue. It operates in over 30 countries worldwide.

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