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L&T Plunges 3%; BSE CAPITAL GOODS Index Down 2.0%
Tue, 23 Jul 15:13

L&T Plunges 3%; BSE CAPITAL GOODS Index Down 2.0%Image source: peterschreiber.media/www.istockphoto.com

L&T share price has plunged 3% and is presently trading at Rs 3,536.0.

Meanwhile, the BSE CAPITAL GOODS index is at 71,214.2 (down 2.0%).

Among the top losers in the BSE CAPITAL GOODS index today are Bharat Electronics (down 3.6%) and Siemens (down 3.3%).

Lakshmi Machine (up 2.3%) and SCHAEFFLER INDIA (up 1.0%) are among the top gainers today.

Over the last one year, L&T has moved up from Rs 2,494.2 to Rs 3,536.0, registering a gain of Rs 1,041.9 (up 41.8%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 41,819.7 to 71,214.2, registering a gain of 70.3% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were BHEL (up 223.7%), HINDUSTAN AERO. (up 151.6%) and Bharat Electronics (up 137.6%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,394.9 (down 0.1%).

The top losers among the BSE Sensex today are Bajaj Finance (down 2.3%) and Axis Bank (down 1.7%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,492.7 (down 0.1%). Shriram Transport and Hindalco are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,097.4 to 80,394.9, registering a gain of 13,297.4 points (up 19.8%).

L&T Financial Update...

L&T net profit grew 12.5% YoY to Rs 50,035 million for the quarter ended March 2024, compared to a profit of Rs 44,467 million a year ago. Net sales rose 15.0% to Rs 670,787 million during the period as against Rs 583,352 million in January-March 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 31.2.

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