Larsen and Toubro (L&T) has soared 6% to Rs 1,231, extending its previous day’s 2% gain, after the construction and engineering major said it expects a 15-20% growth on the operational income as well as order inflows for FY13.
The company is planning to enter Indonesia, Iraq, Brazil and CIS countries in FY13 to raise its international business, which currently contributes 18% to 25% and offset any possible shortfall in domestic operations.
Meanwhile, the company has reported a better-than-expected 14% year-on-year (y-o-y) growth in net profit at Rs 1,920 crore for the quarter ended March 2012. Net sales too, grew 21% at Rs 18,460 crore on y-o-y basis, largely on account of seasonally strong quarter.
The trading volumes on the counter more than doubled, with a combined 5.6 million shares have already changed hands on the counter so far, against an average 2.8 million shares that were traded daily in past ten trading days on the NSE and BSE.