CapitalMarket.com - L&T gains on bargain hunting
Hot Pursuit Wednesday, March 21, 2012 14:53 Hrs IST

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L&T gains on bargain hunting

L&T jumped 4.90% at Rs 1,353.65 at 14:49 IST on BSE on bargain hunting after the stock fell 7.47% in the preceding four sessions to Rs 1,290.40 on 20 March 2012 from Rs 1,394.70 on 14 March 2012.

Meanwhile, the BSE Sensex was up 263.20 points, or 1.52%, to 17,579.38.

On BSE, 3.71 lakh shares were traded in the counter as against an average daily volume of 4.72 lakh shares in the past one quarter.

The stock hit a high of Rs 1,356 and a low of Rs 1,278 so far during the day. The stock had hit a 52-week high of Rs 1,867.85 on 8 July 2011. The stock had hit a 52-week low of Rs 971 on 21 December 2011.

The stock had underperformed the market over the past one month until 20 March 2012, falling 10.92% compared with the Sensex's 5.32% fall. The scrip had, however, outperformed the market in past one quarter, rising 31.79% as against 14.11% rise in the Sensex.

India's largest engineering and construction company by sales has an equity capital of Rs 122.48 crore. Face value per share is Rs 2.

L&T's net profit rose 18% to Rs 991.55 crore on 22.8% growth in net sales to Rs 13998.58 crore in Q3 December 2011 over Q3 December 2010.

L&T is a $11.7 billion technology, engineering, construction, manufacturing and financial services conglomerate with global operations.

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