Continuing gains for the second straight session, shares of Larsen & Toubro (L&T) today soared over 5%, boosted by better-than-expected fourth quarter results.
The scrip, which opened the day on a weaker note, recovered all the initial losses and finally settled at Rs 1,222.50, up 5.41% on the BSE. During the day, the stock surged 6.39% to Rs 1,234.
At the National Stock Exchange (NSE), the stock closed at Rs 1,219.50, up 5.18%.
"L&T saw good buying as sentiments improved for the counter on better-than-expected Q4 FY12 results," Shanu Goel Research Analyst Bonanza Portfolio said.
The counter was the best performer among the 30-Sensex bluechips.
On the volume front, 9.22 lakh shares were traded on the BSE, while over 49 lakh shares changed hands on the NSE.
L&T yesterday reported a growth of 13.89% in its standalone net profit at Rs 1,920.41 crore for the quarter ended March 31, 2012, largely on the back of improved order inflows.
The company had reported a net profit of Rs 1,686.21 crore during the corresponding quarter last fiscal.