L&T declines after reporting Q2 results

L&T declined 2.07% to Rs 1,441.10 at 14:55 IST on BSE after consolidated net profit rose 16% to Rs 996 crore on 11% rise in gross revenue to Rs 23605 crore in Q2 September 2015 over Q2 September 2014.

The company announced results during market hours today, 30 October 2015.

Meanwhile, the S&P BSE Sensex was down 172.51 points or 0.64% at 26,665.63.

Huge volumes were witnessed on the counter. On BSE, so far 6.13 lakh shares were traded in the counter as against average daily volume of 2.05 lakh shares in the past one quarter.

The stock hit a high of Rs 1,498 and a low of Rs 1,433.60 so far during the day. The stock had hit a record high of Rs 1,892.95 on 4 March 2015. The stock had hit a 52-week low of Rs 1,413.15 on 29 September 2015.

The stock had underperformed the market over the past one month till 29 October 2015, gaining 1.61% compared with Sensex's gain of 4.11%. The scrip had also underperformed the market in past one quarter, declining 17.77% as against Sensex's 2.63% fall.

The large-cap company has equity capital of Rs 186.13 crore. Face value per share is Rs 2.

L&T's bottom line in Q2 September 2015 was boosted by exceptional item. There was an exceptional gain of Rs 309.57 crore in Q2 September 2015 on divestment of part stake in a subsidiary company and stake in an associate company.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services, with global operations. Its products and systems are marketed in over 30 countries worldwide.

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