Larsen & Toubro (L&T) is currently trading at Rs. 1373.85, up by 12.20 points or 0.90% from its previous closing of Rs. 1361.65 on the BSE.
The scrip opened at Rs. 1363.00 and has touched a high and low of Rs. 1378.80 and Rs. 1362.00 respectively. So far 61362 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1867.85 on 08-Jul-2011 and a 52 week low of Rs. 971.00 on 21-Dec-2011.
Last one week high and low of the scrip stood at Rs. 1378.25 and Rs. 1295.15 respectively. The current market cap of the company is Rs. 84116.24 crore.
The Institutions and Non-Institutions held 52.25% and 44.64% stake in the company, respectively.
In a bid to fund its expansion, Larsen & Toubro (L&T) is reportedly planning to offload minority stake in its infrastructure unit -- L&T Infrastructure Development Projects. The company will dispose-off the same for an amount of $500 million to private equity investors or pension funds.
Further, the company, which has mandated Morgan Stanley to arrange the sale, is also planning to tap sovereign funds such as Singapore’s Temasek.
At present, L&T Infrastructure Development Projects is handling projects worth Rs 45,000 crore, which comprise 19 road and three port developments. Moreover, the company’s largest contract is a 164 billion-rupee metro rail project in southern Hyderabad city.
Larsen & Toubro is $11.7 billion technology, engineering, construction, manufacturing and financial services conglomerate, with global operations. L&T Electrical & Automation (E&A) is a business brand of the company.