L&T strengthens on the buzz of bidding for four Indian coast guard contracts

17 Jun 2013

Larsen & Toubro (L&T) is currently trading at Rs. 1455.00, up by 14.60 points or 1.01% from its previous closing of Rs. 1440.40 on the BSE.

The scrip opened at Rs. 1441.35 and has touched a high and low of Rs. 1457.40 and Rs. 1426.60 respectively. So far 123115 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1719.50 on 29-Oct-2012 and a 52 week low of Rs. 1288.50 on 15-Jun-2012.

Last one week high and low of the scrip stood at Rs. 1444.00 and Rs. 1382.10 respectively. The current market cap of the company is Rs. 89596.40 crore.

The Institutions and Non-Institutions held 52.86% and 43.55% stake in the company, respectively.

Larsen & Toubro (L&T) is reportedly planning to bid for four Indian coast guard contracts worth Rs 4,000 crore. The company is also planning to bid for two landing platform docks that will be awarded by the Indian government. Further, the company is trying to expand its defence manufacturing business and recently emerged, in consortium, as the lowest bidder for a contract to make army vehicles.

L&T is a $13.5 billion technology, engineering, construction, manufacturing and financial services conglomerate, with global operations.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323