L&T builds up after winning orders

L&T rose 0.35% to Rs 1,551.10 at 10:05 IST on BSE after the company said its construction division, L&T Construction won orders valued at Rs 2400 crore.

The announcement was made before market hours today, 29 March 2017.

Meanwhile, the S&P BSE Sensex was up 61.15 points or 0.21% at 29,470.67.

On the BSE, 5,408 shares were traded on the counter so far as against the average daily volumes of 1.33 lakh shares in the past one quarter. The stock had hit a high of Rs 1,555.50 and a low of Rs 1,548.80 so far during the day. The stock had hit a 52-week high of Rs 1,615 on 27 July 2016 and a 52-week low of Rs 1,177 on 7 April 2016.

The large-cap company has equity capital of Rs 186.59 crore. Face value per share is Rs 2.

L&T said that the power transmission and distribution business of L&T Construction recently bagged major orders worth Rs 2400 crore in the domestic and international markets.

L&T's consolidated net profit rose 38.9% to Rs 972.47 crore on 1.7% growth in net sales to Rs 26018.15 crore in Q3 December 2016 over Q3 December 2015.

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

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