L&T spurts on plan to expand business in Southeast Asia, Africa

30 Aug 2016

Larsen & Toubro is currently trading at Rs 1472.50, up by 16.30 points or 1.12% from its previous closing of Rs 1456.20 on the BSE.

The scrip opened at Rs 1465.00 and has touched a high and low of Rs 1475.00 and Rs 1458.00 respectively. So far 134948 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1630.00 on 11-Sep-2015 and a 52 week low of Rs. 1016.60 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 1,484.00 and Rs. 1420.00 respectively. The current market cap of the company is Rs. 137146.36 crore.

The Institutions and Non-Institutions held 56.49% and 43.51% respectively in the company.

In a bid to cover up for losses in West Asia, Larsen & Toubro (L&T) is reportedly planning to scale-up its business in Southeast Asia and Africa. Overseas orders now account for a third of the company's order inflow, up from 10-12 per cent a few years ago.

The $16-billion Mumbai-based conglomerate diversified into West Asia with the aim to reduce its exposure to the domestic market. However, it has faced challenges in West Asia, incurring huge losses on hydrocarbon projects while the fall in crude oil prices has led to drying of the order pipeline.

L&T is a technology, engineering, construction and manufacturing company. It is one of the largest and most respected companies in India's private sector.


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