L&T inches up after securing new orders

L&T rose 0.68% to Rs 1,351.50 at 9:51 IST on BSE after the company said that the power transmission & distribution business of L&T Construction has secured orders worth Rs 1038 crore in the international and domestic markets in November 2015.

The announcement was made during market hours today, 26 November 2015.

Meanwhile, the S&P BSE Sensex was up 110.39 points or 0.43% at 25,886.13.

On BSE, so far 42,000 shares were traded in the counter as against average daily volume of 2.44 lakh shares in the past one quarter.

The stock hit a high of Rs 1,354.10 and a low of Rs 1,346 so far during the day. The stock had hit a record high of Rs 1,892.95 on 4 March 2015. The stock had hit a 52-week low of Rs 1,325.55 on 16 November 2015.

The stock had underperformed the market over the past one month till 24 November 2015, sliding 11.12% compared with Sensex's 6.17% fall. The scrip had also underperformed the market in past one quarter, declining 17.82% as against Sensex's 0.13% rise.

The large-cap company has equity capital of Rs 186.24 crore. Face value per share is Rs 2.

L&T's consolidated net profit rose 15.6% to Rs 995.90 crore on 10.6% growth in net sales to Rs 23393.22 crore in Q2 September 2015 over Q2 September 2014.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services, with global operations. Its products and systems are marketed in over 30 countries worldwide.

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