L&T builds up after receiving order

L&T rose 0.72% to Rs 1,266 at 10:09 IST on BSE after the company said that its wholly owned subsidiary, L&T Hydrocarbon Engineering secured orders valued around Rs 2100 crore.

The announcement was made before market hours today, 1 January 2018.

Meanwhile, the S&P BSE Sensex was up 32.49 points or 0.1% at 34,089.32.

On the BSE, 8,217 shares were traded on the counter so far as against average daily volumes of 2.83 lakh shares in the past one quarter. The stock had hit a high of Rs 1,267.95 and a low of Rs 1,259.05 so far during the day. The stock had hit a record high of Rs 1,275 on 27 December 2017 and a 52-week low of Rs 888.30 on 29 December 2016.

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

L&T said that its wholly owned subsidiary, L&T Hydrocarbon Engineering has secured a major engineering, procurement and construction (EPC) contract from HPCL, Visakhapatnam refinery, and an extension to an ongoing contract for Reliance Industries Jamnagar, both adding to about Rs 2100 crore.

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 an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

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