|Hot Pursuit||Wednesday, December 26, 2007 15:23 Hrs IST|
L&T builds new order win
The company made this announcement during trading hours today, 26 December 2007.
Meanwhile, BSE Sensex was up 338.44 points or 1.70% to 20,192.56.
On BSE 1.55 lakh shares were traded in the counter. The stock had an average daily volume of 3.07 lakh shares in the past one quarter.
The stock hit a high of Rs 4231 and a low of Rs 4100 so far during the day. The stock hit a 52-week high of Rs 4670 on 1 November 2007 and a 52-week low of Rs 1374.90 on 5 March 2007.
The large-cap scrip had underperformed the market over the past one month till 24 December 2007, declining 0.29% as compared to the Sensexís return of 5.31%. It had outperformed the market in the past one quarter, rising 42.73% as compared to the Sensexís rise of 17.48%.
The companyís current equity is Rs 58.25. Face value per share is Rs 2.
The current price of Rs 4186.05 discounts Q2 September 2007 annualized EPS of Rs 48.54 PE multiple of 86.24.
The project site is located near A1 Seeb International Airport. The project is to be executed within 21 months.
Larsen & Toubro (Oman) LLC is a joint venture of Larsen & Toubro India and The Zubair Corporation, which is one of the leading business groups in the Sultanate of Oman.
L&T has also secured two orders worth $79.71 million (Rs 315.20 crore) from Dhofar Power Company (DPC) and Muscat Electricity Distribution Company (MEDC) for electrical substations & associated works in Oman. These orders will be executed within a time span of 7 months to 16 months.
On 19 November 2007, the company secured a contract worth Rs 275 crore from Delhi Metro Railway Corporation in consortium with Shanghai Urban Construction.
On 15 November 2007, L&T in consortium with Paul Wurth won an order worth Rs 580 crore from state-run Steel Authority of India to rebuild one of its blast furnaces.
L&Tís net profit rose 73% to Rs 348.02 crore on 47.4% growth in net sales to Rs 5499.94 crore in Q2 September 2007 over Q2 September 2006.
The company manufactures a wide range of engineering products like earthmoving, industrial and chemical machinery, switchgears, valves and welding alloys.