L&T gains after securing new orders

The company announced the new orders during trading hours today, 16 May 2013.

Meanwhile, the S&P BSE Sensex was up 12.93 points or 0.06% at 20,225.89.

On BSE, 1.51 lakh shares were traded in the counter as against average daily volume of 2.08 lakh shares in the past one quarter.

The stock hit a high of Rs 1,604.40 and a low of Rs 1,568.15 so far during the day. The stock had hit a 52-week high of Rs 1,719.50 on 29 October 2012. The stock had hit a 52-week low of Rs 1,106.40 on 4 June 2012.

The stock had outperformed the market over the past one month till 15 May 2013, surging 14.44% compared with the Sensex's 10.11% rally. The scrip had also outperformed the market in past one quarter, jumping 9.45% as against Sensex's 3.83% rise.

The large-cap company has equity capital of Rs 123.16 crore. Face value per share is Rs 2.

L&T's Building & Factories business secured new orders worth Rs 1021 crore for the construction of residential towers, a cement plant and a factory at various locations across India, including additional orders from operating projects.

The Heavy Civil Infrastructure business has secured new orders worth Rs 866 crore for the Kochi Metro Rail Project. In the Transportation Infrastructure business, a new order worth Rs 315 crore has been received from Dedicated Freight Corridor Corporation of India. The Water & Renewable Energy business has secured EPC (engineering, procurement and construction) orders worth Rs 148 crore from the Public Health Engineering Department, Rajasthan.

Additional orders worth Rs 192 crore have been received for one of the operating projects under Power Transmission and Distribution business, L&T said in a statement.

L&T's net profit rose 13.1% to Rs 1121.75 crore on 10.3% growth in net sales to Rs 15429.36 crore in Q3 December 2012 over Q3 December 2011.

L&T is a $14 billion technology, engineering, construction, manufacturing and financial services conglomerate with global operations.

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