L&T shares down over 2% as earning miss estimates

Shares of Larsen & Toubro fell by 2 per cent after the company's September quarter earnings failed to meet market expectations.
The engineering major's scrip fell by 1.98 per cent to settle at Rs 1,620 on the BSE. During the day, it lost 3.57 per cent to Rs 1,593.65.
At the NSE, the stock slipped 2.10 per cent to end at Rs 1,619.
On the volume front, 2.46 lakh shares of the company changed hands at the BSE, while over 29 lakh shares were traded at the NSE during the day.
Jignesh Chaudhary, Head Of Research, Veracity Broking Services, said: "L&T earnings fell short of the estimates which dragged down the market further".

L&T reported a tepid 6.87 per cent rise in consolidated net profit on Friday at Rs 861.75 crore for the July-September quarter due to subdued sales from its power and hydrocarbon verticals.
The company had reported Rs 806 crore net profit in the year-ago period.
Its Q2 consolidated revenue rose by 10.60 per cent to Rs 21,159.35 crore from Rs 19,130.77 crore in the same period during the last fiscal year.