Larsen & Toubro lost nearly 1% to Rs 2565 at 9:55 IST on BSE, even as the company said it has fixed 3 October 2008 as the record date for 1:1 bonus issue.
The company announced the record date after trading hours on Friday, 29 August 2008.
The stock hit a high of Rs 2579.80 and a low of Rs 2550.10 so far during the day. The stock has a 52-week high of Rs 4670 on 1 November 2007 and a 52-week low of Rs 2100 on 2 July 2008.
The company’s current equity is Rs 58.50. Face value per share is Rs 2.
The current price of Rs 2565 discounts Q1 June 2008 annualized EPS of Rs 68.73, by a PE multiple of 37.32.
On 12 August 2008, Larsen & Toubro (L&T)’s consortium bagged engineering, procurement and construction orders worth Rs 3,816 crore from the steel and zinc industries.
On 9 July 2008, L&T’s railway business unit bagged an order worth Rs 1047 crore from Indian Railways for setting up a cast steel wheel manufacturing plant at Saran in Bihar.
On 7 July 2008, L&T bagged an order worth Rs 446 crore from JSW Power Transco for transmission lines.
L&T’s net profit surged 33.3% to Rs 502.44 crore on 53.2% increase in net sales to Rs 6901.43 crore in Q1 June 2008 over Q1 June 2007.
The company manufactures a wide range of engineering products like earthmoving, industrial and chemical machinery, switchgears, valves and welding alloys.
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