L&T gains on evaluating alternatives for monetization of certain assets of L&T IDPL

02 Dec 2013

Larsen & Toubro is currently trading at Rs. 1054.90, up by 11.55 points or 1.11% from its previous closing of Rs. 1043.35 on the BSE.

The scrip opened at Rs. 1042.20 and has touched a high and low of Rs. 1055 and Rs. 1042.20 respectively. So far 16,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1133.23 on 07-Dec-2012 and a 52 week low of Rs. 678.10 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 1053.50 and Rs. 971.00 respectively. The current market cap of the company is Rs. 97,561.00 crore.

The Institutions and Non-Institutions held 52.61% and 44.43% respectively.

Larsen & Toubro (L&T) is evaluating alternatives for monetization of certain assets of its subsidiary company, L&T Infrastructure Development Projects (L&T IDPL), including a potential initial public offering and listing in Singapore of selected road assets of L&T IDPL, through a business trust in Singapore.

The proposed transactions are subject to various factors including approvals and market conditions and may or may not be completed.

Larsen & Toubro (L&T) is a technology, engineering, construction and manufacturing company. It is one of the largest and most respected companies in India's private sector. More than seven decades of a strong, customer-focused approach and the continuous quest for world-class quality have enabled it to attain and sustain leadership in all its major lines of business.

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