L&T hits 52-week high after winning orders

L&T rose 0.42% to Rs 1,222 at 10:10 IST on BSE after the company announced that its construction division won orders worth Rs 2525 crore.

The announcement was made before market hours today, 12 September 2017.

Meanwhile, the S&P BSE Sensex was up 99.75 points, or 0.31% to 31,981.91.

On the BSE, 48,591 shares were traded in the counter so far, compared with average daily volumes of 5.82 lakh shares in the past one quarter. The stock had hit a high of Rs 1,231.95 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 1,219 so far during the day. The stock had hit a 52-week low of Rs 863.54 on 9 November 2016.

 

The stock has gained 9.3% in four sessions to its ruling price, from a close of Rs 1,117.95 on 6 September 2017.

The stock had outperformed the market over the past one month till 11 September 2017, gaining 7.42% compared with 2.14% gains in the Sensex. The scrip had also outperformed the market in past one quarter, rising 2.74% as against Sensex's 1.98% rise. The scrip had also outperformed the market in past one year, gaining 20.14% as against Sensex's 10.71% rise.

The large-cap company has equity capital of Rs 280.11 crore. Face value per share is Rs 2.

L&T's consolidated net profit rose 50.6% to Rs 1028.30 crore on 9.6% rise in net sales to Rs 23810.86 crore in Q1 June 2017 over Q1 June 2016.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

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