L&T gains after winning orders

L&T gained 1.28% to Rs 1,452 at 10:00 IST on BSE after the company said that its construction division won orders worth Rs 2416 crore across various business segments in June 2016.

The announcement was made during market hours today, 27 June 2016.

Meanwhile, the BSE Sensex was down 22.12 points, or 0.08%, to 26,375.59.

On BSE, so far 46,053 shares were traded in the counter, compared with an average volume of 2.02 lakh shares in the past one quarter. The stock hit a high of Rs 1,454.25 and a low of Rs 1,430 so far during the day. The stock hit a 52-week high of Rs 1,886.25 on 17 July 2015. The stock hit a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had outperformed the market over the past one month till 24 June 2016, rising 15.48% compared with 4.32% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 15.45% as against Sensex's 4.18% rise.

The large-cap company has an equity capital of Rs 186.40 crore. Face value per share is Rs 2.

L&T said that the building & factories business of its construction arm won orders worth Rs 1165 crore, power transmission & distribution business bagged orders worth Rs 1120 crore in the domestic and international markets and smart world and communication business won orders worth Rs 131 crore in June 2016.

L&T's consolidated net profit rose 18.6% to Rs 2453.64 crore on 18.5% growth in net sales to Rs 32812.24 crore in Q4 March 2016 over Q4 March 2015.

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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