MoneyWorks4Me

L&T buys entire stake held by TIDCO in L&T Shipbuilding

11 Apr 2019 Evaluate

Larsen & Toubro (L&T) has purchased the entire stake held by Tamil Nadu Industrial Development Corporation (TIDCO) in L&T Shipbuilding (LTSB), a subsidiary company, on April 10, 2019. 

TIDCO held 3% stake in LTSB. The same has now been acquired by L&T, to make it a wholly owned subsidiary.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.

Peers
Company Name CMP
Larsen & Toubro 3879.00
Kalpataru Projects 1391.05
NCC 132.85
Rail Vikas Nigam 206.80
KEC International 396.95
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