Thursday , October 21 2021

L&T surges on agreeing to acquire entire stake in subsidiary

Larsen & Toubro (L&T) is currently trading at Rs. 1451.20, up by 26.95 points or 1.89% from its previous closing of Rs. 1424.25 on the BSE.

The scrip opened at Rs. 1428.00 and has touched a high and low of Rs. 1456.50 and Rs. 1425.80 respectively. So far 87652 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 1606.70 on 28-May-2019 and a 52 week low of Rs. 1183.40 on 23-Oct-2018.

Last one week high and low of the scrip stood at Rs. 1456.50 and Rs. 1416.20 respectively. The current market cap of the company is Rs. 203501.57 crore.

The Institutions holding in the company stood at 57.91%, while Non-Institutions held 42.09%.

Larsen & Toubro has agreed to purchase the entire stake held by Old Lane Mauritius III (Old Lane) in L&T Infrastructure Development Projects (L&T IDPL), a subsidiary company, on October 17, 2019. The cost of acquisition is Rs 47.997 crore.

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

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