L&T rose 1.60% to Rs 847 at 12:04 IST on BSE after the company said that L&T Construction won new orders worth Rs 1793 crore across various business segments in July, August and September 2013.
The announcement was made during trading hours today, 16 September 2013.
Meanwhile, the BSE Sensex was up 131.37 points, or 0.67%, to 19,864.13
On BSE, 1.66 lakh shares were traded in the counter compared with average volume of 3.46 lakh shares in the past one quarter.
The stock hit a high of Rs 862 and a low of Rs 846.05 so far during the day. The stock hit a 52-week low of Rs 678.10 on 28 August 2013. The stock hit a 52-week high of Rs 1,146.91 on 29 October 2012.
The stock had outperformed the market over the past one month till 13 September 2013, rising 3.70% compared with the Sensex's 2.62% rise. The scrip had, however, underperformed the market in past one quarter, sliding 10.23% as against Sensex's 4.81% rise.
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The large-cap company has an equity capital of Rs 185.05 crore. Face value per share is Rs 2.
The metallurgical and material handling business bagged new orders worth Rs 550 crore. The power transmission and distribution business secured new orders worth Rs 118 crore from Power Grid Corporation of India. Additional orders worth Rs 1125 crore were also received from various ongoing projects of heavy civil infrastructure and water & renewable energy business, L&T said in a statement.
L&T's net profit declined 12.46% to Rs 756.03 crore on 5% growth in gross revenue to Rs 12704 crore in Q1 June 2013 over Q1 June 2012. L&T attributed the decline in net profit to unfavorable job mix, lower margin accruals and lower other income.
L&T's revenue from international business jumped 68% to Rs 3378 crore in Q1 June 2013 over Q1 June 2012.
L&T's order inflow jumped 28% to Rs 25159 crore in Q1 June 2013 over Q1 June 2012. International order inflow jumped 2.28 times at Rs 3617 crore in Q1 June 2013 over Q1 June 2012. International orders constituted 14% of the total order inflow in Q1 June 2013. The major orders during the year came from Building & Factories, Transportation Infrastructure, Hydrocarbon and Heavy Civil Infrastructure businesses, L&T said.
With a healthy order book, strong balance sheet, wide ranging capabilities and international presence, the company is optimistic about its prospects as both the Indian and global economies work towards their recovery, L&T said. On the international front, the company continues to focus on good prospects in various countries in the Middle East and select markets in CIS region, Africa and South Asia, L&T said.
L&T is a $14 billion technology, engineering, construction, manufacturing and financial services conglomerate with global operations.
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