L&T gets board approval to raise ₹7,500 cr; stock reacts
The engineering major looks to raise up to ₹7,500 crore through external commercial borrowings, term loans, NCDs, or any other instrument.
The engineering major looks to raise up to ₹7,500 crore through external commercial borrowings, term loans, NCDs, or any other instrument.
The project's scope encompasses engineering, procurement, construction, and commissioning of offsite tankages, bullets, and associated facilities on a lump-sum turnkey basis.
L&T shares touched its 52-week high of ₹3,738.90 on January 30, rebounding 80% from its 52-week low of ₹2,073.85 touched on January 31 last year.
Since Nov 2020, when L&T bagged the ‘Shri Ram Janmabhoomi Temple’ project, the stock has risen 233%, from ₹1,080 levels to ₹3,605 on January 15, 2024.
L&T shares touch a fresh all-time high of ₹3,548 on the BSE today on the back of sustained rally; zoom nearly 48% so far this month
S.N. Subrahmanyan is increasing the share of services — financial & IT — in order to increase the margins of the conglomerate.
A.M. Naik has built L&T to its impressive size, the behemoth of today, added new lines of businesses, and unlocked huge value for shareholders.
About 3.3 cr shares are to be brought back, representing premium of 20.28% over the closing price on July 19, 2023
The board of L&T has approved the buyback of equity shares worth ₹10,000 crore at maximum price of up to ₹3,000 per share through the tender offer route.
The board of L&T approved the buyback of up to 3.33 crore equity shares worth ₹10,000 crore at ₹3,000 apiece, a premium of 17% from the current trading price.