Doing much better than peers

Mumbai : Larsen & Toubro’s June quarter results were in line with Street expectations. This helped its shares recover three per cent from its intra-day low on Monday. The stock finally closed at Rs 1,629.85, a decline of Rs 10 over its previous close as compared to a 1.8 per cent fall in the Sensex. Led by a strong order book and execution, the company reported a 21 per cent increase in revenues.

These were driven by robust growth of 22-25 per cent in revenues from the engineering & construction (E&C) division, which accounts for about 85 per cent of the total, and the electronics business.