L&T gains after winning order

Larsen & Toubro rose 1.99% to Rs 1,228.40 at 12:09 IST on BSE after the company said its subsidiary L&T Construction won orders worth Rs 3551 crore.

The announcement was made during trading hours today, 26 October 2017.

Meanwhile, the S&P BSE Sensex was down 9.48 points, or 0.03% to 33,033.02.

On the BSE, 1.61 lakh shares were traded in the counter so far, compared with average daily volumes of 1.98 lakh shares in the past one quarter. The stock had hit a high of Rs 1,243.35 and a low of Rs 1,204.45 so far during the day. The stock hit a 52-week high of Rs 1,249.95 on 20 September 2017. The stock hit a 52-week low of Rs 863.97 on 9 November 2016.

The stock had underperformed the market over the past one month till 25 October 2017, rising 3.85% compared with 4.57% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 1.88% as against Sensex's 2.04% rise. The scrip had outperformed the market in past one year, rising 21.85% as against Sensex's 18.70% rise.

The large-cap company has equity capital of Rs 280.11 crore. Face value per share is Rs 2.

Larsen & Toubro (L&T) said that transportation and water effluent treatment business bagged orders worth Rs 1123 crore. Transportation infrastructure business won procurement and construction order worth Rs 777 crore from Public Works Department (PWD), Delhi. Water and effluent treatment business won order worth Rs 572 crore. Building & factories business secured an order worth Rs 866 crore from a prestigious government client for the design and construction of 22 towers (S+12 floors). Smart world and communication business won order worth Rs 213 crore from Metro Link Express from Ahmedabad and Gandhinagar Company for design, manufacture, supply, installation, testing and commissioning of telecommunications systems.

L&T's consolidated net profit rose 50.6% to Rs 1028.30 crore on 9.6% rise in net sales to Rs 23810.86 crore in Q1 June 2017 over Q1 June 2016.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

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