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      L&T inches up

      MoM Team / Mumbai, Feb 28, 2017 11:49 AM IST

        L&T inches up

        L&T gained 0.4 percent to Rs 1,474 on BSE after the company said its subsidiary has signed an Enterprise Framework Agreement with Shell Global Solutions International B.V.

        The announcement was made during market hours today, 28 February 2017.

        Meanwhile, the S&P BSE Sensex was down 17.4 points or 0.06 percent at 28,795.5.

        On the BSE, 40,000 shares were traded on the counter so far as against the average daily volumes of 1.06 lakh shares in the past one quarter. The stock was volatile.

        The stock rose as much as 1.27 percent at the day's high of Rs 1,487 so far during the day. The stock hit a low of Rs 1,468.20 so far during the day.

        The stock had hit a 52-week high of Rs 1,615 on 27 July 2016 and a 52-week low of Rs 1,055.10 on 29 February 2016. It had underperformed the market over the past one month till 27 February 2017, gaining 1.99 percent compared with the Sensex's 3.34 percent rise.

        The scrip had also underperformed the market over the past one quarter, advancing 7.2 percent as against the Sensex's 9.49 percent rise.

        The large-cap company has equity capital of Rs 186.59 crore. Face value per share is Rs 2.

        L&T's wholly-owned subsidiary L&T Hydrocarbon Engineering (LTHE) has signed an Enterprise Framework Agreement (EFA) with Shell Global Solutions International B.V., for providing engineering, procurement and construction management (EPCM) services for Shell projects in the Middle East, South East Asia and India.

        The EFA is for a period of five years. For any agreements resulting from the EFA, LTHE will leverage on its core strengths of engineering and project management to deliver projects for Shell.

        LTHE's engineering office in india, will be its High Vaiue Engineering Centre.

        L&T's consolidated net profit rose 38.9 percent to Rs 972.47 crore on 1.7 percent growth in net sales to Rs 26018.15 crore in Q3 December 2016 over Q3 December 2015.

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


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      Source: Capital Market


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