L&T share trades in green ahead of second-quarter results: Check Q2 expectations

Larsen & Toubro Limited (NSE: LT) gained nearly half a percent in early morning deals on Monday. The uptrends in Dalal Street come ahead of the second-quarter results of the company. The Mumbai-based company's share price was quoting at Rs 1,992.45 a piece at 10:39 AM on NSE, rising 0.88 per cent.

The defence and construction company, L&T is expected to report robust second-quarter earnings for the financial year 2022-23 today, October 31. Zee Business research report noted, “Strong tender pipeline from domestic as well as exports market expected to boost order inflows. The company announced orders of Rs 6500-13500 crore during the quarter and order execution and inflows are in line with the company’s guidance.”

Earlier, the company in an exchange filing on October 17 said,".....we wish to inform you that a Meeting of the Board of Directors of the Company will be held on Monday, 31st October 2022 inter-alia, to consider and approve the unaudited financial results of the Company for the quarter and half year ended 30th September 2022...."

L&T delivered a handsome return of around 18 per cent to its investors in past 6 months. To put into perspective, the stock priced at Rs 1,679.45 apiece on May 2 earlier this year trading around Rs 2000 apiece.

L&T stock price 52-week range is Rs 2,078.55 - Rs 1,456.35. At today's share price levels, L&T stock market cap is at Rs 279000 crore as per the NSE.

Meanwhile, Indian stock markets continued their winning streak on Monday. Out of the benchmark indices, Sensex was trading with 550-point gains at 60,528.89, minutes after opening, and Nifty50 was trading at17,941.90, higher by 155.10 points or 0.87 per cent around this time.

In the 50-stock index, 49 shares were in the green while only one stock was in the red. The biggest gainers were Dr Reddy's Laboratories, Hindustan Unilever and Infosys.

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