L&T Stock Jumps On Bagging Order

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Shares in Larsen and Toubro which was hammered to a 52-week low on Monday, saw some respite in trade after bagging a major order.

The construction arm of the company won orders worth Rs. 1247 crores in the Building & Factories and Power Transmission & Distribution Business.

L&T Stock Jumps On Bagging Order
Larsen & Toubro: Quotes, News
BSE 1496.80BSE Quote2.2 (0.15%)
NSE 1497.00NSE Quote2.95 (0.20%)
The stock was trending higher in a falling market and was up 2 per cent at Rs 1196 on the BSE. The shares of the company have been badly hit in the last one month, as investors worried over the company's order book from the Middle East.

The company gets significant amount of orders from the Middle East, but, that may well see a setback for the company, given the sharp fall in crude prices.

Domestically too, the company has seen a slowdown in orders. Analysts say the company may continue to show a weakish trend in trade.

GoodReturns.in

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