L&T gains after winning orders

L&T rose 1.56% to Rs 1,149 at 11:15 IST on BSE after the company said that its construction division won orders worth at Rs 1975 crore across various business segments.

The announcement was made during market hours today, 28 August 2017.

Meanwhile, the S&P BSE Sensex was up 154.38 points, or 0.49% to 31,750.44.

On the BSE, 65,000 shares were traded in the counter so far, compared with average daily volumes of 5.91 lakh shares in the past one quarter. The stock had hit a high of Rs 1,154.40 and a low of Rs 1,129.30 so far during the day. The stock hit a 52-week high of Rs 1,223.28 on 30 May 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 24 August 2017, falling 4.10% compared with 2.43% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 5.05% as against Sensex's 1.83% rise. The scrip had outperformed the market in past one year, rising 16.44% as against Sensex's 13.51% rise.

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

L&T said the power transmission & distribution business bagged orders worth Rs 1331 crore in the domestic and international markets. Other business segments of L&T construction won orders worth Rs 644 crore.

L&T's net profit rose 2.1% to Rs 558.14 crore on 15.8% rise in net sales to Rs 13937.04 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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