L&T gains after winning orders

Larsen & Toubro rose 0.70% to Rs 1,300.25 at 10:32 IST on BSE after Larsen & Toubro Construction won orders worth Rs 1904 crore across various business segments.

Meanwhile, the S&P BSE Sensex was down 2.67 points, or 0.01% to 37,689.22.

On the BSE, 30,000 shares were traded in the counter so far compared with average daily volumes of 2.21 lakh shares in the past two weeks. The stock had hit a high of Rs 1,308 and a low of Rs 1,292.65 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 1,114.55 on 22 August 2017.

The power transmission & distribution (PT&D) business of L&T Construction has bagged EPC orders worth Rs 1723 crore. The smart world & communication business has secured an order worth Rs 181 crore for the implementation of Goa Intelligent City Management System for Panaji City as the master system integrator (MSI).

On a consolidated basis, net profit of Larsen & Toubro rose 43.15% to Rs 1472 crore on 18.78% rise in net sales to Rs 28283.45 crore in Q1 June 2018 over Q1 June 2017.

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue. L&T Construction is a brand of Larsen & Toubro.

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