L&T recovers on bargain hunting

Meanwhile, the S&P BSE Sensex was up 60.18 points or 0.31% at 19,670.66.

On BSE, 1.45 lakh shares were traded in the counter as against average daily volume of 2.37 lakh shares in the past one quarter.

The stock hit a high of Rs 1,432 and a low of Rs 1,390.55 so far during the day. The stock had hit a 52-week high of Rs 1,719.50 on 29 October 2012. The stock had hit a 52-week low of Rs 1,106.40 on 4 June 2012.

The stock had underperformed the market over the past one month till 3 June 2013, sliding 11.56% compared with the Sensex's 0.18% rise. The scrip had also underperformed the market in past one quarter, declining 0.9% as against Sensex's 3.66% gain.

The large-cap company has equity capital of Rs 123.24 crore. Face value per share is Rs 2.

Shares of L&T had declined 5.31% in five trading sessions to settle at Rs 1,387.55 on Monday, 3 June 2013, from a recent high of Rs 1,465.40 on 27 May 2013.

L&T's net profit declined 6.9% to Rs 1787.94 crore on 9.9% growth in net sales to Rs 20293.83 crore in Q4 March 2013 over Q4 March 2012.

L&T is a $14 billion technology, engineering, construction, manufacturing and financial services conglomerate with global operations.

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