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L&T Plunges 3%; BSE CAPITAL GOODS Index Down 2.3%
Thu, 3 Oct 12:16

L&T Plunges 3%; BSE CAPITAL GOODS Index Down 2.3%Image source: DNY59/www.istockphoto.com

L&T share price has plunged 3% and is presently trading at Rs 3,528.0.

Meanwhile, the BSE CAPITAL GOODS index is at 71,366.0 (down 2.3%).

Among the top losers in the BSE CAPITAL GOODS index today are ADANI GREEN ENERGY (down 4.3%) and GMR Infra (down 3.9%).

Over the last one year, L&T has moved up from Rs 3,072.8 to Rs 3,528.0, registering a gain of Rs 455.2 (up 14.8%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 48,209.1 to 71,366.0, registering a gain of 48.0% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were HINDUSTAN AERO. (up 120.8%), Siemens (up 107.3%) and BHEL (up 107.1%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 83,017.8 (down 1.5%).

The top losers among the BSE Sensex today are Tata Motors (down 4.0%) and Asian Paints (down 3.5%). The most traded stocks in the BSE Sensex are HDFC Bank and Reliance Ind..

In the meantime, NSE Nifty is at 25,391.2 (down 1.6%). BPCL and Shriram Transport are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,512.1 to 83,017.8, registering a gain of 17,505.7 points (up 26.7%).

L&T Financial Update...

L&T net profit grew 10.4% YoY to Rs 34,401 million for the quarter ended June 2024, compared to a profit of Rs 31,161 million a year ago. Net sales rose 15.1% to Rs 551,198 million during the period as against Rs 478,824 million in April-June 2023.

For the year ended March 2024, L&T reported 23.3% increase in net profit to Rs 155,697 million compared to net profit of Rs 126,249 million during FY23. Revenue of the company grew 20.6% to Rs 2,211,129 million during FY24.

The current Price to earnings ratio of L&T, based on rolling 12 month earnings, stands at 30.5.

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