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Stock in Focus: L&T Q4 profit rises Rs 3,025 crore

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Stock news, Stock in the news, Todays market updateIndia’s largest engineering firm, Larsen and Toubro Ltd (L&T), on Monday reported a 28 percent jump in March quarter consolidated net profit on higher revenue and lower taxes. The consolidated net profit in the quarter rose to Rs. 3,025 cr, against Rs. 2,335 cr, that was in a year earlier. Total income from operations grew 12 percent to Rs. 36,828 cr.

The company said it won orders worth Rs. 47,289 cr, in the March quarter, up 9.6 percent from a year earlier. International orders, at Rs. 9,044 cr, made up 19 percent of the total order inflow. The consolidated order book figured at Rs. 2.61 trillion as of 31 March, an enhance of 5 percent from a year earlier.

Revenue from the infrastructure business, rose 8.2 percent to Rs. 20,300.96 cr, in the quarter, while revenue in the power business tanked about 2.8 percent to Rs. 1,838.55 cr.

The shares of L&T closed at Rs. 1,788 on BSE on Monday morning, little changed from last closing. Results have been announced after market hours on 29 May, 2017.

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The stocks that hit fresh 52-week high today

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Nifty Outlook, NSE NIfty, NSE GainersShares of LT Foods, Bliss GVS Pharma, Oriental Trimex, Shakti Pumps, Poddar Pigments, Jayaswal Neco, HOV Services, Walchandngr Ind, Lakshmi Finance, Mirza International, Eimco Elecon, ITC, Websol Energy, AGC Networks, Bharat Bijlee, Nesco Ltd, Adani Transmission Ltd, Suzlon Energy, Motherson Sumi, Vakrangee Software Ltd, that hit their fresh 52-week high in today’s (22 May 2017) trading session.

The NSE Nifty index was trading 32.05 pts up at 9,459.95 in the morning session due to buying in banking stocks, FMCG, and IT stocks by investors cheered by global rally in stock markets. Out of 51 companies in the Nifty index, 22 were trading in green, whereas 29 companies were trading in red in the mid noon hours..

Traders were seen heaping up position in tobacco, infrastructure, personal care, gems and jewellery, I.T sectors, while on the other side, selling were visible in glass, packaging, textiles, fertilizers and transport sectors.