Larsen & Toubro Ltd.

Larsen & Toubro (L&T) is currently trading at Rs. 807.45, up by 10.00 points or 1.25% from its previous closing of Rs. 797.45 on the BSE.

The scrip opened at Rs. 790.00 and has touched a high and low of Rs. 810.95 and Rs. 780.50 respectively. So far 176595 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1146.33 on 29-Oct-2012 and a 52 week low of Rs. 771.35 on 07-Aug-2013.

Last one week high and low of the scrip stood at Rs. 810.95 and Rs. 771.35 respectively. The current market cap of the company is Rs. 74834.74 crore.

The institutions and non-institutions held 52.81% and 44.04% stake in the company, respectively.

In a bid to achieve its potential and tap global opportunities, Larsen & Toubro (L&T) is planning to spin off its hydrocarbon division. In this regard, the company has received the board’s approval to consolidate the assets and liabilities of its hydrocarbon business with its wholly owned subsidiary L&T Hydrocarbon Engineering (LTHE).

For this, LTHE will pay L&T Rs 1,760 crore in cash. The appointed date of the scheme is April 1, 2013. All assets and liabilities would be transferred at book value and there would be no issue of shares by LTHE to the shareholders of the company post the transfer of the hydrocarbon business.

Further, the LTHE would continue to remain L&T’s 100 per cent subsidiary.