CapitalMarket.com - New orders boost L&T
Hot Pursuit Thursday, June 07, 2012 13:45 Hrs IST

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New orders boost L&T

L&T rose 1.4% to Rs 1,285 at 13:43 IST on BSE after the company said its construction division has secured new orders valued at Rs 2410 crore across various businesses in Q1 June 2012.

The company announced the new order win during trading hours today, 7 June 2012.

Meanwhile, the BSE Sensex was up 195.75 points or 1.19% to 16,650.05.

On BSE, 3.39 lakh shares were traded in the counter as against average daily volume of 3.45 lakh shares in the past one quarter.

The stock hit a high of Rs 1,291 and a low of Rs 1,255 so far during the day. The stock had hit a 52-week high of Rs 1,867.85 on 8 July 2011. The stock had hit a 52-week low of Rs 971 on 21 December 2011.

The stock had outperformed the market over the past one month till 6 June 2012, surging 10.39% compared with the Sensex's 2.24% fall. The scrip had also outperformed the market in past one quarter, rising 2.52% as against Sensex's 4.19% decline.

India's largest engineering and construction firm by order book has an equity capital of Rs 122.56 crore. Face value per share is Rs 2.

L&T said the Buildings & Factories segment has secured new orders worth Rs 1821 crore from leading developers for the construction of major residential towers across various cities in the northern part of the country.

The infrastructure segment has won orders aggregating Rs 345 crore for the design and construction of viaducts and three elevated stations from Delhi Metro Rail Corporation (DMRC) which also includes additional orders from various ongoing projects, L&T said.

The Water Effluent and Treatment business has bagged new orders worth Rs 244 crore from Bangalore Water Supply & Sewerage Board for upgrading the existing water distribution systems, including additional orders from various ongoing projects, L&T said.

L&T's net profit rose 13.9% to Rs 1920.41 crore on 21% growth in net sales to Rs 18460.90 crore in Q4 March 2012 over Q4 March 2011.

L&T is a $12.8 billion technology, engineering, construction, manufacturing and financial services conglomerate with global operations.

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