Larsen and Toubro hits 52-week low

Shares of Larsen and Toubro (L&T) have slipped almost 2% to Rs 1,298, also its 52-week on the National Stock Exchange (NSE) in intra-day deals today.

Meanwhile, the company has secured orders worth Rs 1,960 crore across business segments.

Analysts at Prabhudas Lilladher in a report dated November 18 said that most of the companies from capital goods sector acknowledged that pace of recovery is slow and on ground challenges to execution remain. Weak oil prices and commodity prices led to most companies’ uncertain outlook on export market.

The stock opened at 1,320 and touched an intra-day low of Rs 1,298, also its 52-week low. A combined 2,082,517 shares have changed hands on the counter on the BSE and NSE so far.