L&T Infotech hits 52-week high for second consecutive session
DSIJ Intelligence / 09 Nov 2017
IT services major Larsen & Toubro Infotech hit its 52-week high for the second consecutive trade session on Thursday on the back of its exemplary Q2 results.
IT services major Larsen & Toubro Infotech hit its 52-week high for the second consecutive trade session on Thursday on the back of its exemplary Q2 results. The stock traded up by over 8 per cent to hit its 52-week high of Rs. 948.90 per share and also witnessed a spurt in volume by more than 1.64 times on BSE on Thursday.
The company had posted a 17 per cent hike in its net profit to Rs. 272.6 crore for the September quarter of FY18. It had recorded a net profit of Rs. 232.5 crore for the same quarter in the previous fiscal. It’s revenue grew by 9.3 per cent to Rs. 1,750.8 crore for the September quarter of FY18 on a yearly basis.
The stock hit an intraday low of Rs. 870.05 per share on BSE on Thursday. It’s 52-week low of Rs. 595 per share was hit on November 11, 2016. At 1315 hours IST, the stock was trading at Rs. 944.75 per share, higher by 8.13 per cent. Meanwhile, S&P BSE Sensex was trading at 33,230.49 level, higher by 0.04 per cent and NSE Nifty was trading at 10,301.30 level, higher by 0.02 per cent on Thursday.