L&T advances on new order

L&T was up 1.49% to Rs 1,207.75 at 9:48 IST on BSE after the company said that its subsidiary L&T Hydrocarbon Engineering has secured order valued over Rs 1600 crore from HPCL, Visakhapatnam refinery.

The announcement was made during market hours today, 7 December 2017.

Meanwhile, the S&P BSE Sensex was up 155.21 points or 0.48% at 32,752.39.

On the BSE, 26,000 shares were traded on the counter so far as against average daily volumes of 1.96 lakh shares in the past one quarter. The stock had hit a high of Rs 1,208.65 and a low of Rs 1,182 so far during the day. The stock had hit a record high of Rs 1,274 on 10 November 2017 and a 52-week low of Rs 868 on 23 December 2016.

The stock had outperformed the market over the past one month till 6 December 2017, sliding 2.69% compared with the Sensex's 3.36% fall. The stock had also outperformed the market over the past one quarter, gaining 6.45% as against the Sensex's 2.95% rise. The scrip had also outperformed the market over the past one year, advancing 31.03% as against the Sensex's 23.51% rise.

The large-cap company has equity capital of Rs 280.21 crore. Face value per share is Rs 2.

L&T's consolidated net profit surged 31.9% to Rs 2020.30 crore on 6.4% rise in net sales to Rs 26446.76 crore in Q2 September 2017 over Q2 September 2016.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

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