L&T shares gain 5% on strong Q1 results
Shares of Larsen & Toubro rose nearly 5 per cent after the capital goods major posted a 33 per cent rise in quarterly net profit, beating forecasts, helped by strong demand from the engineering and construction sector.
By ET Online |
MUMBAI: Shares of Larsen & Toubro rose nearly 5 per cent after the capital goods major posted a 33 per cent rise in quarterly net profit, beating forecasts, helped by strong demand from the engineering and construction sector.
The company has been riding a construction boom as the country revamps crumbling infrastructure such as airports, roads, ports and power plants.
L&T, which has operations ranging from manufacturing to software services, reported a net profit of Rs 502 crore in the fiscal first quarter ended June, compared with Rs 377 crore reported a year ago.
At 2:45 pm, L&T shares were up 4.85 per cent at Rs 2753 with volume traded at 8,29,497 against two-week average of 6,13,018 shares.
The company has been riding a construction boom as the country revamps crumbling infrastructure such as airports, roads, ports and power plants.
L&T, which has operations ranging from manufacturing to software services, reported a net profit of Rs 502 crore in the fiscal first quarter ended June, compared with Rs 377 crore reported a year ago.
At 2:45 pm, L&T shares were up 4.85 per cent at Rs 2753 with volume traded at 8,29,497 against two-week average of 6,13,018 shares.
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