Larsen & Toubro rose 0.83% to Rs 1,298.95 at 9:38 IST on BSE after the company said L&T Construction has won new orders worth Rs 1009 crore across various business segments in March 2014.
The company made the announcement before trading hours today, 31 March 2014.
Meanwhile, the BSE Sensex was up 99.16 points, or 0.44%, to 22,439.13.
On BSE, so far 47,000 shares were traded in the counter, compared with an average volume of 2.15 lakh shares in the past one quarter.
The stock hit a high of Rs 1,301 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 1,288 so far during the day. The stock hit a 52-week low of Rs 678.10 on 28 August 2013.
The stock had outperformed the market over the past one month till 28 March 2014, rising 16.24% compared with the Sensex's 5.78% rise. The scrip had also outperformed the market in past one quarter, rising 19.55% as against Sensex's 5.41% rise.
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The large-cap company has an equity capital of Rs 185.38 crore. Face value per share is Rs 2.
Larsen & Toubro (L&T) said in the buildings & factories business new design & build orders worth Rs 573 crore have been received. The transportation infrastructure business has won a new order worth Rs 316 crore from a road developer for design, engineering and construction of an elevated road between Jinzira Bazaar and Batanagar on the Budge Budge trunk road in Kolkata.
The power transmission a distribution business has bagged an order worth Rs 120 crore from Odisha Power Transmission Corporation for engineering, supply, erection and commissioning of 33/11 kilovolt (kV) sub-stations and associated lines for the Odisha Distribution System Strengthening Project.
In a separate announcement before trading hours today, 31 March 2014, L&T clarified that the ongoing strike at its Hazira Campus in Gujarat has no material adverse impact on the operations and performance of the company.
L&T's net profit rose 10.6% to Rs 1240.70 crore on 11.8% growth in net sales to Rs 14387.51 crore in Q3 December 2013 over Q3 December 2012.
L&T is a $14 billion technology, engineering, construction, manufacturing and financial services conglomerate, with global operations. L&T Construction is a brand of Larsen & Toubro.
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