Meanwhile, the BSE Sensex was up 8.65 points or 0.05% to 16,224.49.
On BSE, 1.78 lakh shares were traded in the counter as against average daily volume of 3.74 lakh shares in the past one quarter.
The stock hit a high of Rs 1,197 and a low of Rs 1,143.25 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 till 14 May 2012, falling 9.53% compared with the Sensex`s 5.14% fall. The stock had also underperformed the market in past one quarter, declining 15.92% as against Sensex`s 9.15% fall.
India`s biggest engineering and construction company by sales has an equity capital of Rs 122.48 crore. Face value per share is Rs 2.
The L&T stock has surged 5.06% in two trading sessions from Rs 1,138.85 on 11 May 2012, after the company during trading hours on Monday, 14 May 2012, reported good Q4 earnings. The stock had risen 1.83% to settle at Rs 1,159.80 on Monday, 14 May 2012.
L&T`s recurring profit after tax, adjusted for exceptional items, jumped 24.8% to Rs 1877 crore on 21.1% growth in gross revenue to Rs 18646 crore in Q4 March 2012 over Q4 March 2011.
L&T said order inflow for the year ended March 2012 (FY 2012) at Rs 70574 crore took the company`s order book to Rs 145723 crore as on 31 March 2012. The order inflow and order book include proportionate share in the integrated joint ventures, L&T said in a statement.
Decelerating growth momentum across the sectors during 2011-2012 led to deferment of capital expenditure and fresh investment decisions, the company said. Still the company was able to garner sizable new orders mainly from Buildings & Factories, infrastructure, Power Transmission & Distribution and Minerals & Metals sectors, L&T said in a statement.
With regard to the future outlook, L&T said that the performance of the company has strong linkage with the economic environment in India as well as the key markets such as Middle East. While strengthening its domestic presence, the company is accelerating forays into its major international markets, L&T said. Given its large order book, the company is well positioned to sustain revenue growth momentum in the medium term, L&T said in a statement.
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