L&T gains after construction arm wins new orders

Larsen & Toubro rose 0.81% to Rs 1,671.90 at 10:04 IST on BSE after the company said its construction arm won orders worth Rs 1576 crore across various business segments in October 2014.

The company made the announcement during trading hours today, 5 November 2014.

Meanwhile, the BSE Sensex was up 80.91 points, or 0.29%, to 27,941.29.

On BSE, so far 29,000 shares were traded in the counter, compared with an average volume of 1.79 lakh shares in the past one quarter.

The stock hit a high of Rs 1,672 and a low of Rs 1,660 so far during the day. The stock hit a 52-week high of Rs 1,774.70 on 9 June 2014. The stock hit a 52-week low of Rs 912.30 on 13 November 2013.

The stock had outperformed the market over the past one month till 3 November 2014, rising 14.73% compared with 4.86% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 12.67% as against Sensex's 9.34% rise.

The large-cap company has an equity capital of Rs 185.65 crore. Face value per share is Rs 2.

Larsen & Toubro (L&T) said its power transmission & distribution business secured new orders worth 1164 crore. The company's water and renewable energy business won orders including add-ons worth Rs 304 crore. Additional orders worth Rs 108 crore have been received from various ongoing jobs of the heavy civil infrastructure business, the company said in a statement.

L&T announces its Q2 results on 7 November 2014. The company's consolidated net profit rose 110.8% to Rs 966.89 crore on 11.4% rise in total income to Rs 19501.07 crore in Q1 June 2014 over Q1 June 2013.

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. A strong, customer-focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for over seven decades. L&T Construction is a brand of Larsen & Toubro.

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