New orders boost L&T

L&T rose 1.07% to Rs 840.50 at 11:11 IST on BSE after the company said its construction division has secured new orders worth Rs 2683 crore during September 2013 across various business segments in the domestic and international markets.

The company announced the new orders during trading hours today, 26 September 2013.

Meanwhile, the S&P BSE Sensex was up 50.16 points or 0.25% at 19,906.40.

On BSE, 76,000 shares were traded in the counter as against average daily volume of 3.62 lakh shares in the past one quarter.

The stock hit a high of Rs 843.90 and a low of Rs 827.30 so far during the day. The stock hit a 52-week high of Rs 1,146.34 on 29 October 2012. The stock hit a 52-week low of Rs 678.10 on 28 August 2013.

The stock had outperformed the market over the past one month till 25 September 2013, jumping 12.57% compared with the Sensex's 7.22% rise. The scrip had, however, underperformed the market in past one quarter, declining 8.8% as against Sensex's 6.59% rise.

The large-cap company has equity capital of Rs 185.05 crore. Face value per share is Rs 2.

L&T said that its Water & Renewable Energy Business has secured new orders worth Rs 1334 crore from various customers.

In the Buildings & Factories Business, new orders worth Rs 1194 crore were secured from various customers, including a major order received for design and construction of a mega residential project in Chennai.

The Power Transmission & Distribution Business has bagged an international order worth Rs 155 crore from a reputed customer in UAE.

L&T's net profit declined 12.5% to Rs 756.03 crore on 5% growth in net sales to Rs 12555.06 crore in Q1 June 2013 over Q1 June 2012.

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

Powered by Capital Market - Live News