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Last Updated : Sep 17, 2020 12:25 PM IST | Source: Moneycontrol.com

L&T shares fall despite L&T Construction bags Rs 1,000-2,500 crore contracts

The infrastructure company and its construction arm have received multiple orders across business segments in the domestic market recently.

 
 
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Larsen & Toubro (L&T) shares were trading in the red after falling over a percent in the morning trade on BSE on September 17 despite the company said L&T Construction bagged Rs 1,000-2,500 crore contracts for

its metallurgical and material-handling business.

"Metallurgical and material-handling business of L&T Construction has secured an order from Northern Coalfields Limited, a subsidiary of Coal India Limited (CIL), for a coal-processing and load-out package to be installed at the Dudhichua Mines located in Uttar Pradesh," L&T said in a regulatory filing.

"The scope of work involves EPC for double stream coal sizing Et transportation system covering semi-mobile sizing system, high-capacity specialty conveyors and an automated loading system," the company said.

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Rising net cash flow from operating activity has been the company's key strength.

The infrastructure company and its construction arm have received multiple orders across business segments in the domestic market recently.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the debt of the company is increasing and the company has reported a decline in quarterly net profit with a falling profit margin on a year-on-year (YoY) basis.

L&T

Moneycontrol daily technical rating is 'very bearish' for the stock with moving averages and technical indicators being bearish.

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The company, on July 22, reported a consolidated net profit of Rs 303 crore for the quarter ended June 2020, registering a 79 percent decline year-on-year (YoY).

The company's consolidated gross revenue came in at Rs 21,260 crore for Q1FY21, registering a YoY decline of 28 percent. A CNBC-TV18 poll had estimated revenue to come at Rs 21,377 crore.

At around 12pm, shares of L&T were trading 1.16 percent down at Rs 911.25 on BSE.
First Published on Sep 17, 2020 12:13 pm
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