New orders boost L&T

L&T rose 1.78% at Rs 1,493.50 at 13:08 IST on BSE after the company said its construction division has secured new orders worth Rs 1423 crore across various business segments in September 2014.

The new orders were announced during market hours today, 30 September 2014.

Meanwhile, the S&P BSE Sensex was up 200.35 points or 0.75% at 26,797.46.

On BSE, so far 1.08 lakh shares were traded in the counter as against average daily volume of 2.10 lakh shares in the past one quarter.

The stock hit a high of Rs 1,498.40 and a low of Rs 1,463.75 so far during the day. The stock had hit a record high of Rs 1,774.70 on 9 June 2014. The stock had hit a 52-week low of Rs 777.10 on 1 October 2013.

The stock had underperformed the market over the past one month till 29 September 2014, sliding 3.89% compared with Sensex's 0.15% fall. The scrip had also underperformed the market in past one quarter, declining 11.94% as against Sensex's 5.96% rise.

The large-cap company has equity capital of Rs 185.65 crore. Face value per share is Rs 2.

L&T's heavy civil infrastructure business secured an order worth Rs 631 crore from the Lucknow Metro Rail Corporation for the construction of the Lucknow Metro.

The power transmission & distribution business secured three major orders including additional orders from on-going jobs worth Rs 792 crore.

L&T's consolidated net profit jumped 110.8% to Rs 966.89 crore on 10.1% growth in net sales to Rs 18974.75 crore in Q1 June 2014 over Q1 June 2013.

L&T is a major Indian multinational in technology, engineering, construction, manufacturing and financial services, with global operations. Its products and systems are marketed in over 30 countries worldwide. L&T Construction is a brand of L&T.

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