L&T gains after winning orders

L&T rose 0.58% to Rs 1223.30 at 11:06 IST on BSE after the company said its construction arm has won orders worth Rs 3572 crore across various business segments.

The announcement was made before trading hours today, 27 November 2017.

Meanwhile, the S&P BSE Sensex was down 90.03 points, or 0.27% to 33,589.21.

On the BSE, 27,000 shares were traded in the counter so far, compared with average daily volumes of 1.94 lakh shares in the past one quarter. The stock had hit a high of Rs 1,230 and a low of Rs 1,217 so far during the day. The stock hit a record high of Rs 1,274 on 10 November 2017. The stock hit a 52-week low of Rs 868.43 on 23 December 2016.

The transportation infrastructure business of L&T Construction won contract worth Rs 1358 crore for the construction of a new South Parallel runway, apron and associated works at the Kempegowda International Airport, Bengaluru, on EPC basis from Bangalore International Airport.

The metallurgical & material handling business of L&T Construction bagged orders worth Rs 1264 crore.

The power transmission & distribution business of L&T Construction has bagged orders worth Rs 595 crore in the international market.

The buildings & factories business of L&T Construction bagged orders worth Rs 355 crore.

L&T's consolidated net profit surged 31.86% to Rs 2020.30 crore on 6.40% rise in net sales to Rs 26446.76 crore in Q2 September 2017 over Q2 September 2016.

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

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