L&T gains after winning new orders

L&T rose 3.06% to Rs 1429.60 at 13:54 IST on BSE after the company said L&T Construction has won new orders worth Rs 1137 crore across various business segments in April and May 2014.

The company made the announcement during trading hours today, 13 May 2014.

Meanwhile, the BSE Sensex was up 344.27 points, or 1.46%, to 23,895.27.

On BSE, so far 3.63 lakh shares were traded in the counter, compared with an average volume of 2.27 lakh shares in the past one quarter.

The stock hit a high of Rs 1,440.05 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 1,396.50 so far during the day. 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 9 May 2014, rising 6.96% compared with 1.29% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 37.51% as against Sensex's 12.85% rise.

The large-cap company has an equity capital of Rs 185.48 crore. Face value per share is Rs 2.

L&T said the power transmission & distribution business has bagged new orders worth Rs 754 crore. In the buildings and factories business new orders worth Rs 315 crore have been received.

The water and renewable energy business has received an additional turnkey order from a reputed client for the construction of a 11 MW solar photo voltaic power plant in Andhra Pradesh. The scope involves design, engineering, supply, erection, testing and commissioning, L&T said.

L&T's net profit rose 10.6% to Rs 1240.70 crore on 11.8% growth in net sales to Rs 14387.51 crore in Q3 December 2013 over Q3 December 2012.

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

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