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      L&T gets stronger after winning orders

      MoM Team / Mumbai, Jun 19, 2017 10:37 AM IST

        L&T gets stronger after winning orders

        L&T rose 0.39 percent to Rs 1,733 at after the company said that its construction arm, L&T construction won orders worth Rs 2231 crore across various business segments.

        The announcement was made before market hours today, 19 June 2017.

        Meanwhile, the S&P BSE Sensex was up 136.26 points, or 0.44 percent, to 31,192.66.

        On the BSE, 16,212 shares were traded in the counter so far, compared with average daily volume of 1.96 lakh shares in the past one quarter. The stock had hit a high of Rs 1,752 and a low of Rs 1,732.05 so far during the day. The stock had hit a 52-week high of Rs 1,834 on 30 May 2017. The stock had hit a 52-week low of Rs 1,295.30 on 9 November 2016.

        The stock had underperformed the market over the past one month till 16 June 2017, falling 1.06 percent compared with 1.55 percent rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 10.1 percent as against Sensex's 4.97 percent gains. The scrip had also outperformed the market in past one year, gaining 15.75 percent as against Sensex's 17.08 percent gains.

        The large-cap engineering & construction major has equity capital of Rs 186.68 crore. Face value per share is Rs 2.

        Separately, the company on Saturday, 17 June 2017, clarified that it has not cancelled any corporate action. As informed earlier, dividend of Rs 21 per share will be paid on 24 August 2017 and bonus issue of 1:2 will be credited on or before 28 July 2017, record date of which was fixed as 14 July 2017. Both the corporate action is subject to approval of the shareholders.

        The company issued the clarification after shareholders who are clients of ICICI Direct.com received emails from it about cancellation of dividend corporate action of L&T.

        L&T's consolidated net profit rose 28.1 percent to Rs 3180.41 crore on 12 percent increase in net sales to Rs 36827.99 crore in Q4 March 2017 over Q4 March 2016.

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

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      Source: Capital Market


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