New orders boost L&T

L&T rose 0.63% to Rs 1,457.35 at 13:05 IST on BSE after the company said that the power transmission and distribution business of L&T Construction won orders worth Rs 1376 crore in both domestic and international markets in September 2015.

The company made the announcement during market hours today, 30 September 2015.

Meanwhile, the S&P BSE Sensex was up 261.71 points or 1.02% at 26,040.37.

On BSE, so far 1.29 lakh shares were traded in the counter as against average daily volume of 1.93 lakh shares in the past one quarter.

The stock hit a high of Rs 1,466 and a low of Rs 1,449 so far during the day. The stock had hit a record high of Rs 1,892.95 on 4 March 2015. The stock had hit a 52-week low of Rs 1,400 on 8 October 2014.

The stock had underperformed the market over the past one month till 29 September 2015, sliding 10.43% compared with Sensex's 2.33% fall. The scrip had also underperformed the market in past one quarter, declining 18.99% as against Sensex's 6.75% fall.

The large-cap company has equity capital of Rs 186.13 crore. Face value per share is Rs 2.

On a consolidated basis, L&T's net profit fell 37.3% to Rs 606.19 crore on 6.7% growth in net sales to Rs 20252.17 crore in Q1 June 2015 over Q1 June 2014.

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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