Daily Buy Sept 21

By CROW -

Buy >> Larsen & Toubro Ltd
Expected Growth :
25% to 30% growth by end of year.
Reason :
Invested 1 Billion for a stake in Mysore based Rangsons Electronics, an electronic manufacturing services (EMS) provider. Rangsons Electronics, part of NR Group, is one of the fasted growing EMS companies in India.
Financials :
Larsen & Toubro registered a 139.83% growth in net profit to Rs 3,768.5 million for the quarter ended June 2007 from a profit of Rs 1,571.3 million for the quarter ended June 2006.
Net sales rose 29.58% to Rs 45,052.1 million for the quarter ended June 2007 from Rs 34,769 million for the quarter ended June 2006.
Total income rose 33.83% to Rs 47,166.8 million for the quarter ended June 2007 from Rs 35,243.3 million for the quarter ended June 2006.
The earnings per share (EPS) of the company stood at Rs 13.3 for the quarter ended June 2007.
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