L&T gains after winning new orders

L&T rose 0.18% to Rs 1,373 at 10:29 IST on BSE after the company announced that its construction division won orders worth Rs 2048 crore across various business verticals in October 2015.

The company announced during market hours today, 5 November 2015.

Meanwhile, the BSE Sensex was down 146.19 points, or 0.55%, to 26,406.73.

On BSE, so far 67,000 shares were traded in the counter, compared with an average volume of 2.28 lakh shares in the past one quarter.

The stock hit a high of Rs 1,380.95 and a low of Rs 1,364.10 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 1,364.10 on 5 November 2015.

The stock had underperformed the market over the past one month till 4 November 2015, sliding 7.98% compared with 1.27% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 22.75% as against Sensex's 5.41% decline.

The large-cap company has an equity capital of Rs 186.24 crore. Face value per share is Rs 2.

Within the construction division, the power transmission & distribution vertical won orders worth Rs 758 crore in both the international, and domestic markets. The transportation infrastructure vertical secured orders worth Rs 732 crore. The buildings & factories vertical secured orders worth Rs 558 crore including add-ons, L&T said in statement.

L&T's consolidated net profit rose 16% to Rs 996 crore on 11% rise in gross revenue to Rs 23605 crore in Q2 September 2015 over Q2 September 2014.

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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