L&T gains after winning orders

Larsen & Toubro rose 2.26% to Rs 1,325.65 at 11:50 IST on BSE after the company said its construction arm has won orders worth Rs 3376 crore.

The announcement was made during trading hours today, 5 April 2018.

Meanwhile, the S&P BSE Sensex was up 439.01 points, or 1.33% to 33,458.08.

On the BSE, 36,000 shares were traded in the counter so far compared with average daily volumes of 1.21 lakh shares in the past two weeks. The stock had hit a high of Rs 1,329 and a low of Rs 1,310.35 so far during the day. The stock hit a record high of Rs 1,469.60 on 1 February 2018. The stock hit a 52-week low of Rs 1,099.22 on 5 April 2017.

In a separate announcement during trading hours today, 5 April 2018, L&T said that its wholly owned subsidiary, L&T Hydrocarbon Engineering (LTHE), announced an award for three gas production deck modules by Saudi Aramco. This is the fourth award for the consortium of LTHE with Subsea 7. There are three offshore contracts currently under execution by the Consortium for Saudi Aramco under the long term agreement.

L&T's consolidated net profit surged 48.4% to Rs 1617.88 crore on 10.1% growth in net sales to Rs 28747.45 crore in Q3 December 2017 over Q3 December 2016.

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

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