New orders boost L&T

L&T rose 1.81% at Rs 1,457.50 at 13:43 IST on BSE after the company said its construction arm L&T Construction has secured orders worth Rs 6024 crore across various business segments.

The announcement was made during market hours today, 3 October 2016.

Meanwhile, the S&P BSE Sensex was up 325.67 points or 1.17% at 28,191.63.

On BSE, so far 79,000 shares were traded in the counter as against average daily volume of 1.67 lakh shares in the past one quarter. The stock hit a high of Rs 1,459 and a low of Rs 1,436 so far during the day. The stock had hit a 52-week high of Rs 1,615 on 27 July 2016. The stock had hit a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had underperformed the market over the past one month till 30 September 2016, sliding 2.86% compared with 1.68% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 4.31% as against Sensex's 3.21% rise.

 

The large-cap company has equity capital of Rs 186.47 crore. Face value per share is Rs 2.

L&T's consolidated net profit rose 45.5% to Rs 609.60 crore on 9.3% growth in net sales to Rs 21718.61 crore in Q1 June 2016 over Q1 June 2015.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. It operates in more than 30 countries worldwide.

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