Large order boosts L&T

L&T rose 2.23% to Rs 1,468.45 at 14:39 IST on BSE after the company said its construction division has secured a major order worth Rs 3799 crore from the Dedicated Freight Corridor Corporation of India.

The announcement was made during market hours today, 14 October 2016.

Meanwhile, the S&P BSE Sensex was up 38.81 points or 0.14% at 27,681.92.

On BSE, so far 1.13 lakh shares were traded in the counter as against average daily volume of 1.56 lakh shares in the past one quarter. The stock hit a high of Rs 1,473.60 and a low of Rs 1,438.20 so far during the day. The stock had hit a 52-week high of Rs 1,615 on 27 July 2016. The stock had hit a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had outperformed the market over the past one month till 13 October 2016, sliding 1.85% compared with 2.51% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, declining 7.28% as against Sensex's 0.62% fall.

The large-cap company has equity capital of Rs 186.47 crore. Face value per share is Rs 2.

The latest order has been secured by a consortium of L&T and Sojitz Corp, Japan.

L&T's consolidated net profit rose 45.5% to Rs 609.60 crore on 9.3% growth in net sales to Rs 21718.61 crore in Q1 June 2016 over Q1 June 2015.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. It operates in more than 30 countries worldwide.

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