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Larsen and Tubro shares plunge 2.91 percent

By SiliconIndia   |   Monday, August 31, 2009
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Bangalore: Larsen and Tubro (LNT) ended the trading among top losers of the day, when its share went down by Rs.47 (2.91 percent) to end at Rs.1,567.60. The market of Larsen and Tubro opened its stock 44.60 points down to its previous close of Rs.1,614.60. During the day, the stock of Larsen and Tubro touched a high of Rs.1,605 and a low of Rs.1,560. The stock touched a 52-week high of Rs.2,825 and a low of Rs.557. In all 526,009 shares were traded throughout the day with a current P/E of stock at 20.05. With 1,225,407 units of shares, 'SBI Magnum Tax Gain Scheme' holds the highest number of shares in Larsen and Tubro. The stock for 52-week chart is given on left. Larsen and Tubro is a technology, engineering, construction and manufacturing company. It operates in four segments. The engineering and construction segment comprises execution of engineering and construction projects to provide solutions in civil, mechanical, electrical and instrumentation engineering to core sectors. The electrical and electronics segment comprises manufacture and sale of low and medium voltage switchgear and control gear, custom-built switch boards, petroleum dispensing pumps and systems, electronic energy meters or protection (relays) systems, control and automation products and medical equipment. The machinery and industrial products segment includes manufacture and sale of industrial machinery and equipment, marketing of industrial valves, construction equipment and welding or industrial products. Other segments include ready-mix concrete, property development activity and engineering services. In the financial year (FY)2009, the company registered a growth of 35 percent in its gross sales revenues. Out of 29 stock analysts currently following Larsen and Tubro, consensus recommendation is hold. Out of these, four rate stock as buy, six rate it as outperform and one recommend to sell.
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