L&T hits 52-week high after winning orders

L&T rose 3.13% to Rs 1,254.70 at 11:00 IST on BSE after the company announced that its construction division won orders worth Rs 4023 crore across various business segments.

The announcement was made before market hours today, 10 November 2017.

Meanwhile, the S&P BSE Sensex was almost unchanged at 33,250.09.

On the BSE, 1.35 lakh shares were traded in the counter so far, compared with average daily volumes of 1.9 lakh shares in the past one quarter. The stock had hit a high of Rs 1,255 so far during the day, which is also a 52-week high for the stock. The stock had hit a low of Rs 1,216.55 so far during the day. The stock had hit a 52-week low of Rs 863.54 on 9 November 2016.

The stock had outperformed the market over the past one month till 9 November 2017, gaining 6.64% compared with the Sensex's 4.41% rise. The stock had also outperformed the market over the past one quarter, rising 5.24% as against the Sensex's 4.57% rise. The scrip had also outperformed the market over the past one year, jumping 31.23% as against the Sensex's 22.01% rise.

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

The company will announce its Q2 results on 11 November 2017. L&T's consolidated net profit rose 50.6% to Rs 1028.30 crore on 9.6% rise in net sales to Rs 23810.86 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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