Good Numbers for Q1 increase operator activity in L&T

Larsen & ToubroLarsen & Toubro ascended 2.81% to Rs 2,395 in afternoon trading after announcing a 139.83% increase in net earnings in Q1 June 2007 quarter. It announced the quarterly results during market hours today, 19 July 2007.

During the day, the scrip touched an intraday high of Rs 2,420 and an intraday low of Rs 2,350. On 13 July 2007, the stock has had its 52-week high of Rs 2,450 and a 52-week low of Rs 978 on 24 July 2006.

Today, the 3.67 lakh shares of the scrip had changed hands on the BSE counter. In the last three-months, the average daily volume of the scrip stood at 2.16 lakh shares on BSE.

The existing equity capital of the company is Rs 56.76 crore, with 28.38 crore outstanding shares of a face value of Rs 2 per share.

In the one month to 18 July 2007, the stock made 16.73% as against the Sensex’s 7.03% increase. In the past three months, the stock added 40.32% against the Sensex’s 12.35% return.

In Q1 June 2007, the company’s net profit climbed 139.83% to Rs 376.85 crore against Q1 June 2006. Sales also lifted 29.57% to Rs 4,505.21 crore. On 16 July 2007, the group bagged orders worth Rs 1,070 crore for supply & installation of sinter plant and other packages from Tata Steel. On 13 July 2007, it had declared orders worth Rs 853 crore from various sources.

L&T’s main activities are to produce industrial capital goods. It works in three different sections including engineering and construction, electrical and electronics and other.