Shares of Larsen & Toubro (L&T) rose 2 percent in the opening trade on Thursday on the back of robust numbers declared by the company in the quarter ended June 2018 (Q1FY19).
The company posted a 13.8 percent year-on-year (YoY) increase in consolidated net profit at Rs 1,213 crore, beating analyst estimates driven by order inflow
growth in infrastructure, heavy engineering and hydrocarbon segments.
Profit for the same period last year was Rs 1,065.54 crore. The Q1FY19 profit was aided by one-off gain of Rs 355 crore from divestment of Kattupalli port to Adani group.Benchmark indices have made a flat start on Thursday morning, with the Sensex hitting a fresh record high, but the Nifty is still a few points away from the fresh record high.
The Sensex is up 43.42 points or 0.12% at 36901.65, while the Nifty is up 9.50 points or 0.09% at 11141.50. The market breadth is positive as 313 shares advanced, against a decline of 131 shares, while 37 shares are unchanged.
Read more--Stocks update
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