L&T Sizzles On Special Payout Plan
Larsen & Toubro benefited 2.86% to Rs 2,168 after it made declaration of a board meeting on 3 July 2007 to think about a special dividend for FY 2008. During the day, the scrip hit a high of Rs 2,189.40, which is its all-time high price. Its low during the day was Rs 2,097.
Today, there were 2.47 lakh shares on the counter. In the last one quarter, the average daily volume was 2.11 lakh shares on BSE.
The existing market price of Rs 2,168 brushes off the company’s earning per share of Rs 46.9 for the year ended March 2007 by a PE multiple of 46.22.
The company’s scrip had climbed 17.7% from Rs 1,701.60 on 24 May 2007 to Rs 2,002.95 on 1 June 2007, hiked up by its healthy Q4 March 2007 outcomes declared in trading hours on 29 May 2007. After that, the stock slumped endlessly to settle at Rs 1,870.85 by 13 June 2007. From this stage, it benefited 12.66% to Rs 2107.70 on 22 June 2007.
Today, L&T made declaration of a board meeting on 3 July 2007 to mull over special dividend for the financial year ending 31 March 2008. L&T acquired a key contract of $94.95 million for construction of two ships from BigLift Shipping of the Netherlands on 21 June 2007.
On 19 June 2007, L&T said during trading hours that its coalition with Eastern Contracting LLC had bagged a Rs 610-crore order from Victory Heights Golf Residential and Development LLC, United Arab Emirates, to construct a residential property in Dubai Sports City.
L&T is one of the main engineering conglomerates. It makes up a broad variety of engineering products including earthmoving, industrial and chemical machinery, switchgears, valves and welding alloys.