L&T Technology Services spurts on bargain hunting

L&T Technology Services rose 6.67% to Rs 1,352 at 11:25 IST on BSE on bargain hunting after a recent decline.

Meanwhile, the S&P BSE Sensex was up 65.74 points, or 0.20% to 33,769.33.

On the BSE, 24,000 shares were traded in the counter so far compared with average daily volumes of 17,365 shares in the past one quarter. The stock had hit a high of Rs 1,374.90 and a low of Rs 1,292.15 so far during the day. The stock hit a record high of Rs 1,547 on 12 February 2018. The stock hit a record low of Rs 671 on 13 June 2017.

The stock had outperformed the market over the past 30 days till 20 February 2018, rising 23.85% compared with 5.85% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 38.35% as against Sensex's 0.42% rise. The scrip had also outperformed the market in past one year, rising 62.57% as against Sensex's 17.18% rise.

The large-cap company has equity capital of Rs 20.49 crore. Face value per share is Rs 2.

Shares of L&T Technology Services slumped 14.40% in five trading sessions to settle at Rs 1,267.45 yesterday, 20 February 2018, from its close of Rs 1,480.65 on 12 February 2018.

L&T Technology Services' consolidated net profit rose 2.84% to Rs 126.50 crore on 7.6% growth in net sales to Rs 969.10 crore in Q3 December 2017 over Q2 September 2017.

L&T Technology Services provides engineering, research and development (ER&D) services and solutions to all major industries.

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