L&T gains after winning new orders

Larsen & Toubro rose 0.42% to Rs 1,567 at 9:22 IST on BSE after the company said its construction division won new orders worth Rs 2050 crore across various business segments in August and September 2014.

The announcement was made after market hours on Monday, 15 September 2014.

Meanwhile, the BSE Sensex was down 10.43 points, or 0.04%, to 26,806.13.

On BSE, so far 4,555 shares were traded in the counter, compared with an average volume of 2.04 lakh shares in the past one quarter.

The stock hit a high of Rs 1,567.95 and a low of Rs 1,558 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 777.10 on 1 October 2013.

The stock had outperformed the market over the past one month till 15 September 2014, rising 5.32% compared with 2.73% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 7.44% as against Sensex's 6.30% rise.

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

The power transmission & distribution business has bagged international and domestic orders worth Rs 1213 crore. The buildings & factories business has bagged orders worth Rs 775 crore, which consist of two new orders and a few additional orders from on-going jobs.

Additional orders has also been received from various ongoing jobs in the heavy civil infrastructure business and water & renewable energy business, Larsen & Toubro (L&T) said in a statement.

L&T's consolidated net profit jumped 110.8% to Rs 966.89 crore on 10.1% growth in net sales to Rs 18974.75 crore in Q1 June 2014 over Q1 June 2013.

L&T is a $14.3 billion technology, engineering, construction, manufacturing and financial services conglomerate, with global operations. L&T Construction is a brand of L&T.

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