Larsen and Toubro (L&T) share price rose in trade today after the firm said it plans to issue reedemable non-convertible debentures aggregating up to Rs 1400 crore, on a private placement basis. L&T share price rose up to 2.06% to Rs 1,340.75 compared to the previous close of Rs 1,313 on BSE. L&T share opened at Rs 1,315.45 level and hit an intra day low of 1315.45 on the BSE.
L&T share has gained 6.45% in the last one year but fell 7.24% since the beginning of this year. 30 of 33 brokerages rate the stock "buy" or 'outperform', one "hold" , one "underperform" and one "sell", according to analysts' recommendations tracked by Reuters.
L&T share hit its 52-week high of 1606.70 on May 28, 2019 and touched its 52-week low of 1183.40 on October 23, 2018.
The engineering behemoth reported a 22.42 per cent jump in consolidated net profit at Rs 1,697.62 crore for the first quarter ended June 2019. The conglomerate had clocked a net profit after tax and share in profit/(loss) of joint ventures/associates from continuing operations of Rs 1,386.62 crore in the corresponding quarter last year.
Its total income in the quarter under review rose by 10.23 per cent to Rs 30,020.35 crore as compared with Rs 27,232.76 crore in the year-ago period. The company's total expenses rose to Rs 27,365.12 crore during the period under review from Rs 25,215.51 crore in the year-ago period.
Edited by Aseem Thapliyal