Shares of Larsen & Toubro (L&T) rose 2 per cent to Rs 1,393 on the BSE in intra-day trade on Wednesday after the company reported better-than-expected December quarter numbers. The consolidated net profit during the said quarter stood at Rs 2,467 crore, up nearly 5 per cent from the same period last year. On a consolidated basis, adjusted revenues from continuing operations fell 1.8 per cent YoY to Rs 35,596 crore.
Shares of L&T Technology Services (LTTS) moved higher by 10 per cent to Rs 2,621 on the BSE in the intra-day trade on Tuesday on the back of heavy volumes ahead of its October-December quarter (Q3FY21) results. The company said it will announce its results for the third quarter of FY21 on Wednesday, January 20, 2021 post market hours.
The stock of LTTS, a subsidiary of Larsen & Toubro (L&T) focused on engineering, research & development (ER&D) services, hit a record high of Rs 2,780 on Friday, January 15, 2021.
Shares of Larsen & Toubro were up 2.5 per cent at Rs 1,347 on the BSE in the intra-day trade on Thursday, having rallied over 50 per cent in the past three months, on the back of strong order flows.
The stock of construction & engineering major was trading close to its 52-week high of Rs 1,384, touched on February 1, 2020. In the past three months, L&T has outperformed the market by surging 51 per cent, as against a 21-per cent rise in the S&P BSE Sensex.
Shares of Larsen & Toubro (L&T) traded 1 per cent higher at Rs 1,296 on the BSE on Friday in an otherwise subdued market on report that the company’s wholly-owned subsidiary, L&T Hydrocarbon (LTHE), is the lowest bidder for HPCL Rajasthan Refinery.
The stock of the construction & engineering company was trading close to its 52-week high level of Rs 1,384, touched on February 1, 2020. In comparison, the S&P BSE Sensex was down 0.25 per cent at 46,767 points, at 12:20 pm.
L & T Technology Services (LTTS) said on Thursday it has been selected by a global oil and gas major to be the primary engineering partner for supporting two integrated refining and chemicals manufacturing facilities in the United States.
It did not name the client but said the multi-year engagement has a potential value of more than 100 million dollars (about Rs 737 crore).
Shares of Larsen & Toubro (L&T) gained 2 per cent at Rs 922 on the BSE on Tuesday on report that the company has emerged as the lowest bidder in the financial bids for the design and construction of civil works for 47 per cent of the alignment of the Mumbai-Ahmedabad High-Speed Rail corridor.
Three bidders, involving seven major infrastructural companies, had participated in competitive bidding.
Engineering and construction giant Larsen & Toubro (L&T) on Monday announced Rs 150 crore donation to the PM-CARES Fund to fight the coronavirus outbreak and said it has set aside over Rs 500 crore per month to support about 1.60 lakh contract workers.
L&T joins a list of other corporates including Tata Group and Reliance Industries who have come forward to offer their support to fight this unprecedented crisis.
Construction and engineering major Larsen & Toubro (L&T) is set to reduce its debt by Rs 30,000 crore in the next financial year by selling its entire stake in L&T Infrastructure Development Projects (IDPL) and Nabha Power, and transferring its stake in Hyderabad Metro to an infrastructure investment trust (InvIT).
S N Subrahmanyan, chief executive officer (CEO) and managing director (MD) of L&T, said the plan for the next financial year was to become asset light and reduce debt wherever possible.
Shares of Larsen & Toubro (L&T) were trading lower for the fourth straight day, slipping 1.3 per cent on Tuesday to hit 52-week low of Rs 1,244 on the BSE. The construction & engineering company's stock was trading at its lowest level since February 18, 2019.
In the last nine months, L&T has underperformed the market by falling 22 per cent, as compared to 2 per cent rise in the benchmark S&P BSE Sensex during the period.
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