L&T turns volatile after winning orders

L&T was down 0.22% to Rs 1,254.60 at 11:29 IST on BSE after the company said its construction arm won orders worth Rs 2871 crore across various businesses.

The announcement was made during trading hours today, 6 January 2016.

Meanwhile, the BSE Sensex was down 18.25 points, or 0.07%, to 25,562.09.

On BSE, so far 1.10 lakh shares were traded in the counter, compared with an average volume of 2.13 lakh shares in the past one quarter. The stock rose 0.29% at the day's high of Rs 1,261 so far during the day. The stock fell 0.54% at the day's low of Rs 1,250.55 so far during the day, which is also a 52-week low for the counter. The stock hit a record high of Rs 1,892.95 on 4 March 2015. The stock had underperformed the market over the past one month till 5 January 2016, sliding 6.23% compared with 0.23% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 18.92% as against Sensex's 4.50% fall.

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

L&T's arm, L&T Construction, secured international and domestic orders worth Rs 1276 crore in its buildings and factories business segment.

Its water & effluent treatment business segment bagged a water supply order worth Rs 539 crore from the Hyderabad Metropolitan Water Supply & Sewerage Board.

The transportation infrastructure business segment received an engineering, procurement and construction (EPC) order Rs 385 crore from the National Highways Authority of India for the construction of Simga Saragaon Road Project (PKG-II) section of NH-200 Raipur to Bilaspur in the state of Chhattisgarh.

The metallurgical & material handling business segment bagged an EPC order worth Rs 312 crore from NTPC of a coal handling plant of 2x660 megawatts power plant at Tanda.

Other businesses of L&T Construction have won orders worth Rs 359 crore.

On a consolidated basis, L&T's 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 Construction is a brand of L&T. 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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