L&T fell 4.24% to Rs 1,097.45 at 12:11 IST on BSE on profit booking after the company said its shipbuilding unit won orders worth $154 million in Q3 December 2013.
The announcement was made during trading hours today, 10 October 2013.
Meanwhile, the BSE Sensex was down 93.90 points, or 0.44%, to 21,232.52.
On BSE, 2.22 lakh shares were traded in the counter compared with average volume of 3.21 lakh shares in the past one quarter.
The stock hit a high of Rs 1,140.10 and a low of Rs 1,092.90 so far during the day. The stock hit a 52-week high of Rs 1,152.40 on 9 December 2013. The stock hit a 52-week low of Rs 678.10 on 28 August 2013.
Shares of L&T witnessed profit selling. The stock rose 10.20% in the preceding three trading sessions to Rs 1146.10 on 9 December 2013 from a recent low of Rs 1040 on 4 December 2013.
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The stock had outperformed the market over the past one month till 9 December 2013, rising 17.72% compared with the Sensex's 3.19% rise. The scrip had also outperformed the market in past one quarter, gaining 52.07% as against Sensex's 10.67% rise.
The large-cap company has an equity capital of Rs 185.21 crore. Face value per share is Rs 2.
L&T announced that its subsidiary, L&T Shipbuilding, bagged orders valued at $154 million, for six specialised commercial vessels, in the third quarter of the fiscal year ending March 2014.
L&T's net profit declined 14.1% to Rs 977.51 crore on 10% growth in net sales to Rs 14509.51 crore in Q2 September 2013 over Q2 September 2012.
L&T is a $14 billion technology, engineering, construction, manufacturing and financial services conglomerate, with global operations.
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