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L&T trades jubilantly on restructuring IT and IES businesses

14 Sep 2012

Larsen & Toubro (L&T) is currently trading at Rs. 1473.50, up by 55.65 points or 3.92% from its previous closing of Rs. 1417.85 on the BSE.

The scrip opened at Rs. 1440.00 and has touched a high and low of Rs. 1477.75 and Rs. 1440.00 respectively. So far 245639 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1632.00 on 16-Sep-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. 1477.75 and Rs. 1335.35 respectively. The current market cap of the company is Rs. 90322.23 crore.

The Institutions and Non-Institutions held 52.48% and 44.33% stake in the company, respectively.   

L&T has restructured its IT and L&T Integrated Engineering Services (IES) businesses with a view to accelerate growth in the technology space. L&T Infotech has been organized around two business clusters, ‘Industrial’ and ‘Services’ and the current L&T IES will be rebranded as L&T Technology Services. As a part of this strategy, it has inducted three US -based professionals on the L&T Infotech board.

The L&T IES will offer customized engineering services and will also include embedded systems deployed in product and plant electronics and custom firmware for the telecom equipment industry.

Under L&T Infotech’s new structure, the Services cluster will include banking, financial services, insurance and areas like travel and logistics, media and entertainment and healthcare. While, the Industrial cluster will leverage the company’s existing strengths and heritage to address manufacturing plants, establishments including wholesale, retail sale of products and establishments dealing with energy and utilities.

Related Larsen & Toubro Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323