• Worst performer on the Nifty Midcap index
• Locked in a 5% lower circuit at Rs 112.5
• Fourth straight day of lower circuit for the stock
• Was locked in a lower circuit of 10% for three straight days before price band was revised to 5% from 10%
• Longest losing streak for the stock in over a month
• Has declined 30% in the last four trading sessions
• Today's volumes are 86% below its 20-day average
• Given up all the gains it saw over a period of three days starting August 27
• Fallen below its 50-Day Moving Average at 116
• Six out of the seven analysts tracking the stock have a buy recommendation; 0 sell calls

The infrastructure conglomerate has informed the exchanges that it has won a significant contract from the ministry of defence.

The contract involves supply of Pinaka Launchers, Battery Command Posts and associated Engineering Support Packages (ESP) for four regiments, the exchange filing said.

The Pinaka System has been indigeneously developed by the company.

The company has earlier supplied two regiments of Pinaka systems earlier.

Classification as 'significant' means that the order ranges between Rs 1,000 crore - Rs 2,500 crore, as per L&T's terminology.

Shares are off the day's low, after declining as much as 1.7% to Rs 945.

The company has informed the exchanges that it will hold a board meeting on September 8 to consider a buyback of equity shares.

Shares gained as much as 6.2% to Rs 698, post the announcement. The stock is up for the fourth straight day and is trading at the highest level in five months.

The company informed the exchanges on Thursday that its board has approved raising funds to the tune of Rs 900 crore through the issuance of equity shares.

The fund raising can also be done through warrants or any other secured or either through a preferential allotment, QIP or any other mode, the company said in an exchange filing.

The company also approved enabling resolutions to raise funds worth Rs 250 crore through Non-Convertible Debentures (NCDs) on a private placement basis.

Shares gained as much as 4.7% to Rs 394.9, post the announcement. The stock is up for the third straight day and is trading at the highest level in a month.