L&T builds on bonus bounty
The results and the bonus announcement hit the market a little while ago.
The stock hit a high of Rs 2949 and a low of Rs 2715 so far during the day. The stock had a 52-week high of Rs 4670 on 1 November 2007 and the stock hit a 52-week low of Rs 1775 on 29 May 2007.
The large-cap scrip had underperformed the market over the past one month till 27 May 2008, declining 9.92% compared to the Sensex's decline of 4.35%. It also underperformed the market in the past one quarter, sliding 25.60% compared to Sensex's decline of 8.70%.
The company's current equity is Rs 58.46 crore. Face value per share is Rs 2.
The current price of Rs 2829.65 discounts its Q3 December 2007 annualised EPS of Rs 66.03, by a PE multiple of 42.85.
Larsen & Toubro posted 54.91% jump in net profit to Rs 2173.42 crore on 40.82% increase in total income to Rs 25442.57 crore in the year ended March 2008 over the year ended March 2007.
The company declared a dividend of Rs 17 per share in the year March 2008 as compared to Rs 13 in the year March 2007.
On 15 May 2008, Larsen & Toubro entered into an agreement with Lafarge India for sale of its ready mix concrete business for an enterprise value of Rs 1480 crore.
Larsen & Toubro manufactures a wide range of engineering products like earthmoving, industrial and chemical machinery, switchgears, valves and welding alloys.