L&T gains after winning orders

Larsen & Toubro rose 0.17% to Rs 1,068.35 at 11:24 IST on BSE after the company said L&T Construction won new orders worth Rs 1471 crore across various business segments in November and December 2013.

The announcement was made during trading hours today, 3 December 2013.

Meanwhile, the BSE Sensex was up 7.61 points, or 0.04%, to 20,905.62.

On BSE, 1.21 lakh shares were traded in the counter compared with average volume of 3.26 lakh shares in the past one quarter.

The stock hit a high of Rs 1,081.80 and a low of Rs 1,060.10 so far during the day. The stock hit a 52-week high of Rs 1,133.23 on 7 December 2012. 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 2 December 2013, rising 8.63% compared with the Sensex's 1.41% fall. The scrip had also outperformed the market in past one quarter, soaring 46.62% as against Sensex's 10.65% rise.

The large-cap company has an equity capital of Rs 185.21 crore. Face value per share is Rs 2.

L&T Construction, a brand of Larsen & Toubro (L&T), said in a statement that its power transmission & distribution business segment received orders worth Rs 686 crore in both domestic and international markets.

The buildings & factories business segment bagged new orders worth Rs 461 crore.

The water & renewable energy business segment bagged an order worth Rs 142 crore from Karnataka Urban Water Supply & Drainage Board for providing, laying, jointing, testing and commissioning of waste water network under the 2nd stage waste water scheme to Tumkur City.

The heavy civil infrastructure business segment bagged additional orders valued Rs 182 crore from its ongoing jobs, L&T Construction said.

L&T's net profit declined 14.1% to Rs 977.51 crore on 10% growth in net sales to Rs 14509.51 crore in Q2 September 2013 over Q2 September 2012.

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

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