Larsen & Toubro Ltd (LART.NS)
|Market Cap (Mil.):||Rs1,414,719.00|
|Shares Outstanding (Mil.):||928.23|
MUMBAI - The Nifty rose on Wednesday, snapping a two-session losing streak as blue-chips such as Bharti Airtel Ltd, Lupin Ltd and Dr Reddy's Laboratories Ltd gained after their earnings beat estimates.
* Investors cautious ahead of the derivatives contract expiry
MUMBAI - Shares in conglomerate Larsen and Toubro slump around 7 percent on Wednesday after the company's April-June net profit, adjusted for exceptional items worth 2.49 billion rupees, missed estimates.
Reuters Market Eye - Citigroup downgrades Larsen & Toubro Ltd to "neutral" from "buy", citing "rich" valuations and says Q1 "raises multiple red flags," including lower-than-expected standalone sales and margin details.
* Citigroup downgrades Larsen & Toubro Ltd to "neutral" from "buy". * Citi cites "rich" valuations and says April-June earnings "raises multiple red flags," including lower-than-expected standalone sales and margin details. * Says earnings "were a warning that investors/analysts need to curb their enthusiasm." * Deustche Bank also downgrades L&T, to "hold" from "buy." * Deutsche cites concerns about valuations and says large order wins are in the low-margin hydrocarbons sector. * L&T falls as m
* India's NSE index falls 0.12 percent, heading for a 3rd consecutive losing session. * Larsen and Toubro Ltd slumps 6.8 percent after April-June quarter earnings And comments that conditions in the domestic market are still sluggish. * Hindustan Unilever Ltd falls 0.9 percent on profit-taking after a 3.5 percent gain on Monday. * But Bharti Airtel gains 5.7 percent to its highest in nearly two years after its earnings. * Asian shares touched a six-and-half-year peak ahead of Fed meeting o
MUMBAI, July 30 - Shares in Indian conglomerate Larsen and Toubro fell 3.2 percent at pre-open trading after the company's April-June net profit, adjusted for exceptional items worth 2.49 billion rupees, missed estimates.
MUMBAI/NEW DELHI - Larsen & Toubro Ltd (L&T) , one of India's biggest conglomerates, dampened hopes for a quick recovery in domestic demand and said international orders were fuelling its growth.
* Retains FY revenue, order inflow guidance (Recasts, adds CFO quotes, details)
NEW DELHI, July 28 - Indian conglomerate Larsen & Toubro Ltd (L&T) said on Monday revenue totalled 191.23 billion Indian rupees ($3.2 billion) in the first quarter, beating analyst forecasts, after a rise in orders from international clients.