L&T gains nearly 2% after Q1 PBT plunges 66% YoY; brokerages remain bullish
Shares of Larsen & Toubro (L&T), the infrastructure and construction major, gained nearly 2 per cent on the BSE on Thursday, a day after the company posted a 66 per cent year-on-year (YoY) crash in its profit before tax (PBT) for the April to June 2020 quarter (Q1), owing to the disruption caused by the Covid-19-induced lockdown.
At 09:36 am, the stock was trading 1.22 per cent higher at Rs 932.20 on the BSE. It hit a high of Rs 937.80 (up 1.82 per cent) so far in the trade against yesterday’s close of Rs 920.95. In comparison, the S&P BSE Sensex was trading flat at 37,929 levels, up 0.15 per cent.
L&T’s stock had hit a 52-week high of Rs 1,554.05 on September 23, 2019 while its 52-week low stands at Rs 661.05, hit on March 23 this year.
