L&T gains as Q2 earnings beat estimates
22nd October 2012 03:18 PM
Larsen & Toubro (L&T), a construction and heavy engineering company, gained on Monday after it has reported better- than-expected earnings.
The company reported a rise of 42.45% in net profit to Rs 11.37 billion for the quarter ended Sept.30, 2012 as compared to Rs 7.98 billion in the same period last year. The market was expecting profit of Rs 8.93 billion.
Net sales of the company rise 17.18% to Rs 133.28 billion for the quarter ended Sept. 30, 2012 from Rs 113.74 billion in the year ago period. Shares ofthe companyare trading at Rs 1,657.60, up Rs 24.9, or 1.53% at the Bombay Stock Exchange (BSE) on Monday at 2:13 p.m.The scrip has touched an intra-day high of Rs 1,673.80 and low of Rs 1,616. The total volume of shares traded at the BSE is 432,318.In the earlier session, the shares declined 1.18%, or Rs 19.5, at Rs 1,632.70. Currently, the stock is trading down 0.32% from its 52-week high of Rs 1,663 and above 70.71% over the 52-week low of Rs 971.Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 1,650.40 (17.70) (1.07) 1 Month 1,521.10 111.60 7.34 3 Months 1,390.05 242.65 17.46 6 Months 1,254.80 377.90 30.12 1 Year 1,336.00 296.70 22.21 Note: Based on previous day closing price.
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