Larsen & Toubro (L&T), which on Thursday completed disinvestment of its cement-making arm, may follow up with strategic sales of other units such as those making medical equipment and petrol pump equipment, according to company and market sources.
The company, which is into areas as diverse as information technology, defence, engineering and construction, has been trying to get out of many of its units, but had been held back by lack of buyer interest caused by the tight credit conditions in the market.
The engineering and construction major wrapped up divestment of the cement unit, whose reins it had handed over to the Aditya Birla group's Grasim Industries in 2004. It sold its entire 11.49% stake in UltraTech cement at an average price of Rs 725 per share, raising around Rs 1,037 crore.
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