The announcement was made before market hours today, 3 November 2009.
Meanwhile, the BSE Sensex was down 43.56 points, or 0.27%, to 15852.72.
On BSE, 19,025 shares were traded in the counter as against an average daily volume of 4 lakh shares in the past one quarter.
The stock hit a high of Rs 1579 and a low of Rs 1554.20 so far during the day. The stock had hit a 52-week high of Rs 1800 on 8 June 2009 and a 52-week low of Rs 557 on 9 March 2009.
The stock had outperformed the market over the past one month till 30 October 2009, falling 6.89% as compared to the Sensex 7.18% fall. It outperformed the market in past one quarter, rising 5.21% as against 3.30% rise in the Sensex.
India's largest engineering company by revenue has an equity capital of Rs 120.05 crore. Face value per share is Rs 2.
The current price of Rs 1578 discounts the company's Q2 September 2009 annualised EPS of Rs 39.51, by a PE multiple of 39.93.
Larsen & Toubro (L&T)'s net profit rose 26.10% to Rs 580.40 crore on 3.54% rise in total income to Rs 8136.39 crore in Q2 September 2009 over Q2 September 2008. The company declared the results on 22 October 2009.
L&T attributed the muted sales growth to delay in clearances of infrastructure projects from some clients and lower offtake of industrial and machinery products. The company said order backlog is at Rs 81623 crore, which is 2.4 times its revenue of Rs 33926.37 crore in the year ended March 2009, giving strong revenue visibility.
L&T said the recent surge in crude oil prices may boost orders from the hydrocarbon sector. The company said revival of infrastructure development in the Gulf region augurs well as the company has a significant presence in the region.
L&T had on 9 October 2009 said it raised Rs 1872.79 crore through issuing 1.12 crore equity shares at Rs 1659.30 per share.
On the same day, the company also launched an offering of foreign currency convertible bonds (FCCBs) for an aggregate amount of up to $200 million.
L&T had on 6 October 2009 said its construction division won orders worth Rs 1513 crore in Q2 September 2009. The engineering conglomerate said the orders include construction of a luxury hotel, several hospitals and factories and a residential tower.
Late last month, L&T Finance, a 100% subsidiary of L&T, signed a pact with Cholamandalam DBS Finance to buy its asset management business for Rs 45 crore.
L&T had on 24 September 2009 company bagged an order worth more than Rs 2000 crore from GMR Energy for setting up a gas-based power plant in Andhra Pradesh.
Larsen & Toubro is India's biggest engineering & construction firm in terms of revenue
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