L&T gains after winning new orders

Larsen & Toubro rose 1.14% to Rs 1,733 at 11:44 IST on BSE after the company said its construction unit won orders worth Rs 2278 crore across various business segments in May and June 2015.

The announcement was made during trading hours today, 19 June 2015.

Meanwhile, the BSE Sensex was up 207.64 points, or 0.77%, to 27,323.47.

On BSE, so far 69,000 shares were traded in the counter, compared with an average volume of 1.65 lakh shares in the past two weeks.

The stock hit a high of Rs 1,741.75 and a low of Rs 1,721 so far during the day. The stock hit a record high of Rs 1,892.95 on 4 March 2015. The stock hit a 52-week low of Rs 1,400 on 8 October 2014.

L&T Construction, a brand of Larsen and Tourbo (L&T), said its power transmission and distribution business won orders worth Rs 1258 crore in international markets. Its heavy civil infrastructure business won orders worth Rs 1020 crore, including add ons.

L&T's consolidated net profit fell 27.11% to Rs 2070 crore in Q4 March 2015 on the higher base net profit of Rs 2840 crore in Q4 March 2014, which included a one-time write back. Consolidated gross revenue rose 3.8% to Rs 28275 crore in Q4 March 2015 over Q4 March 2014, registering a modest growth as certain sectoral constraints slowed down the pace of execution.

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.

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