The announcement was made during trading hours today, 9 February 2010. The stock had fallen as much as 0.74% at the day's low of Rs 1434.
Meanwhile, the BSE Sensex was up 88.32 points, or 0.55%, to 16023.93.
On BSE, 1.66 lakh shares were traded in the counter as against an average daily volume of 4.20 lakh shares in the past one quarter.
The stock hit a high of Rs 1459 and a low of Rs 1434 so far during the day. The stock had hit a 52-week high of Rs 1800 on 8 June 2009 and a 52-week low of Rs 557 on 9 March 2009.
The stock had underperformed the market over the past one month till 8 February 2010, falling 13.84% compared with the Sensex's 9.15% fall. It underperformed the market in past one quarter, 8.31% as against 1.38% decline in the Sensex.
India's largest engineering and construction company by revenue has an equity capital of Rs 120.35 crore. Face value per share is Rs 2.
The current price of Rs 1456 discounts the company's Q3 December 2009 annualised EPS of Rs 50.57, by a PE multiple of 28.79.
Last week, the company had received new orders worth Rs 1100 crore in the buildings and factories segment.
Larsen & Toubro's net profit fell 50.1% to Rs 758.82 crore on a 6.1% fall in sales to Rs 8071.37 crore in Q3 December 2009 over Q3 December 2008.
Larsen & Toubro is India's biggest engineering and construction firm in terms of revenue.