L&T gains after winning new orders

L&T rose 2.80% to Rs 831.50 at 10:20 IST on BSE after the company said L&T Construction won new orders worth Rs 1605 crore across various business segments.

The announcement was made during trading hours today, 8 October 2013.

Meanwhile, the BSE Sensex was up 218.78 points, or 1.10%, to 20,113.88.

On BSE, 1.06 lakh shares were traded in the counter compared with average volume of 3.74 lakh shares in the past one quarter.

The stock hit a high of Rs 834.90 and a low of Rs 818.65 so far during the day. The stock hit a 52-week high of Rs 1,146.34 on 29 October 2012. The stock hit a 52-week low of Rs 678.10 on 28 August 2013.

The stock had outperformed the market over the past one month till 7 October 2013, rising 7.32% compared with the Sensex's 3.24% rise. The scrip had, however, underperformed the market in past one quarter, falling 13.93% as against Sensex's 2.05% rise.

The large-cap company has an equity capital of Rs 185.05 crore. Face value per share is Rs 2.

L&T said the buildings & factories business bagged an order valued Rs 445 crore from Hospital Services Consultancy Corporation (India) for the construction of a super specialty cum new paid ward including associated services at Safdarjung Hospital, New Delhi.

The metallurgical & material handling business secured a new engineering, procurement and construction (EPC) order worth Rs 307 crore from a reputed customer for the construction of a sinter plant in eastern India.

The power transmission & distribution business has bagged a major order worth Rs 675 crore from Kudgi Transmission. The scope includes detailed engineering, survey, civil works, installation, testing and commissioning of three 400 kV and one 765 kV double circuit line transmission system to evacuate power from the 3 x 800 MW Kudgi Thermal power station in Bijapur District, Karnataka.

In the heavy civil infrastructure business, additional order worth Rs 178 crore was received, L&T said in a statement.

L&T said during market hours on Monday, 7 October 2013, that it secured two engineering, procurement and construction (EPC) projects aggregating about Rs 1100 crore in the hydrocarbon segment in UAE and Qatar. These orders reinforce L&T's strategic objective of enhancing its global footprints, and reflect its capability to execute hydrocarbon projects in competitive international environment, L&T said in a statement.

L&T's net profit declined 12.5% to Rs 756.03 crore on 5% growth in net sales to Rs 12555.06 crore in Q1 June 2013 over Q1 June 2012.

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

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