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L&T rises on plan to increase overseas revenue

22 Nov 2011

Larsen and Toubro (L&T) is currently trading at Rs. 1238.50, up by 12.20 points or 0.99% from its previous closing of Rs. 1226.30 on the BSE.

The scrip opened at Rs. 1227.00 and has touched a high and low of Rs. 1241.00 and Rs. 1227.00 respectively. So far 18,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2064.00 on 02-Dec-2010 and a 52 week low of Rs. 1201.55 on 18-Nov-2011.

Last one week high and low of the scrip stood at Rs. 1277.00 and Rs. 1201.55 respectively. The current market cap of the company is Rs. 75,692.00 crore.

The Institutions and Non-Institutions hold 52.18% and 43.58% respectively.

L&T, India's leading engineering company is planning to increase its revenue share from overseas projects to 15-20% from 10-12% currently as part of a strategy to beat a slowdown in India. In recent months it has publicized Rs 5,685 crore worth of new foreign contracts, mainly for hydrocarbon firms in the West Asian region, since August.

The company gets more than 80% of its revenue from the domestic market but currently it has cut its order growth guidance for the current fiscal by a third to 5% last month, blaming slowing investments and rising competition.

L&T’s net profit after tax for the quarter rose 4.37% at Rs 798.39 crore as compared to Rs 764.98 crore for the quarter ended September 30, 2010. Total income has increased by 18.43% to Rs 11608.41 crore for the quarter under review from Rs 9802.21 crore for the similar quarter of the previous year.

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Larsen & Toubro Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323