Business Today
Loading...

Larsen & Toubro share price gains 3.5% post Q3 earnings, among top gainers today

Following the result update, L&T share price rose to intraday high of Rs 1,339.50, gaining 3.3% on BSE against the previous close of Rs 1,294.25.

twitter-logo BusinessToday.In        Last Updated: January 23, 2020  | 11:47 IST
Larsen & Toubro share price gains 3.5% post Q3 earnings, among top gainers today
L&T share price has gained after 2 days of consecutive fall. The stock has risen 0.73% in a week, 1.33% in a month and 2.13% in a year.

Share price of Larsen & Toubro rose 3.5% intraday on Thursday, after the capital goods company posted 15% growth in YoY rise in PAT, driven by lower tax cost (down 37% YoY) and operating income.

Following the result update, L&T share price rose to intraday high of Rs 1,339.50, gaining 3.3% on BSE against the previous close of Rs 1,294.25. L&T share price has gained after 2 days of consecutive fall. The stock has risen 0.73% in a week, 1.33% in a month and 2.13% in a year.

Larsen and Toubro stock price has moved above its 30 and 50-day simple moving average today, but lower than 100 and 200-day moving averages.

Volume-wise, 1.52 lakh and 57.9 lakh shares changed hands on BSE and NSE.

Shares of L&T closed 0.64% lower at Rs 1,294.25 on Wednesday.

L&T's consolidated profit after tax (PAT) from continuing operations for the quarter ended December 31, 2019, stood at Rs 2,560 crore, registering a growth of 15% over Rs 2218.68 crore recorded in the corresponding quarter of the previous year.

Larsen & Toubro recorded consolidated revenue of Rs 36,243 crore from continuing operations for the quarter ended December 31, 2019, registering a growth of 6% (YoY) from Rs 36,233 crore. The company said its revenue impacted by execution in the infrastructure business, that recorded revenue of Rs 17,249 crore for the quarter, registering a 5% YoY decline.

R Shankar Raman, CFO said L&T was on track to meet the full-year (FY20) order inflow growth guidance of 10-12% YoY and maintained revenue growth forecast at 12-15%.

Stocks in news: Biocon, Canara Bank, PVR, PNB Housing, HDFC Life, L&T, SBI Life, Axis Bank and more

Share Market LIVE: Sensex up 220 points, Nifty above 12,170; Axis Bank, L&T top gainers post Q3 results

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close