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L&T Q3 Net Profit Surges 9.34% to Rs.840.6 crore

By Bhaveek Patel Leave a Comment

India’s largest engineering firm Larsen & Toubro Ltd. (L&T) has announced its quarter 3 (Q3) results today. The company has reported a net profit of Rs.840.6 crore in Q3FY11 as against Rs.768.8 crore in same period of previous year, a growth of 9.34%. Also, the company earned one time gain of Rs 35 crore.

Strong growth in revenues which was reported a surge of 40.52% to Rs.11,413 crore against Rs.8,122.2 crore in the previous quarter.

What about L&T stock: From the current level we can start accumulating this stock. Once the markets starts consolidation stocks like this one will start outperforming. So buy L&T near 1550 – 1600 range for short term target of 1735 and 1825. Also place the protective stop loss near 1500 level.

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Category: Results Tags: L&T/ Q3FY10/ Results

About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

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