Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

L&T to acquire Old Lane stake in L&T Infrastructure Development Projects Ltd

Posted On: 2019-10-18 12:30:35

Larsen & Toubro Ltd has agreed to purchase the entire stake held by Old Lane Mauritius III Ltd ('Old Lane') in L&T Infrastructure Development Projects Limited ('L&T IDPL'), a subsidiary company, on October 17, 2019.

L&T Infrastructure Development Projects Limited with turnover of Rs. 257.31 crore and a networth of Rs. 2503.58 crore as on March 31, 2019.

At the request of Old Lane, subject to completion of certain conditions precedent, L&T has agreed to purchase its small holding in L&T IDPL as a gesture of goodwill towards a longtime investor. Post the completion of this acquisition, L&T will hold 100% shareholding in L&T IDPL.

The cost of acquisition is Rs. 47.997 crore for 81,90,000 shares aggregating to 2.551% of the shareholding.

L&T Infrastructure Development Projects Limited was incorporated on February 26, 2001 and has been a pioneer of the Public Private Partnership (PPP) model of development in India, which involves the development of infrastructure projects by private sector players in partnership with the Central and State Governments. The company has since its inception completed landmark infrastructure projects across key sectors like Roads, Bridges, Ports, Airports, Water Supply, Hydel Energy and Urban Infrastructure.

Shares of LARSEN & TOUBRO LTD. was last trading in BSE at Rs.1424.25 as compared to the previous close of Rs. 1424.8. The total number of shares traded during the day was 86519 in over 3982 trades.

The stock hit an intraday high of Rs. 1438.75 and intraday low of 1420.5. The net turnover during the day was Rs. 123439760.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Shaily Engineering Plastics Ltd Q2 net profit improves QoQ

CESC Ltd consolidated Q2 FY20 PAT higher at Rs. 364 crores

R J Shah & Co. Ltd. Q2 net profit at Rs. 0.22 crore

Sakuma Exports Ltd consolidated Q2 net profit up QoQ, drops YoY

Windsor Machines Ltd posts consolidated PAT drops QoQ

Windsor Machines Ltd posts consolidated PAT drops QoQ

VMS Industries Ltd consolidated Q2 net profit increases QoQ, YoY

Tirupati Sarjan Ltd Q2 PAT up QoQ

Geojit Financial Services Ltd consolidated Q2 FY20 PAT rises to Rs. 9.25 crores

Albert David Ltd posts Rs. 7.92 crores net profit in Q2 FY20

Tyroon Tea Co. Ltd. Q2 net profit increases to Rs. 4.10 crores

PIX Transmissions Ltd Q2 FY20 consolidated net profit higher at Rs. 8.01 crores

PG Foils Ltd posts net profit of Rs. 8.06 crores in Q2

Chartered Capital & Investment Q2 net profit up at Rs. 0.22 crore

EXPO Gas Containers Ltd reports decline in Q2 PAT to Rs. 0.26 crore

Virat Crane Industries Ltd posts net profit of Rs. 1.53 crore in Q2

FACOR Alloys Ltd Q2 consolidated net profit soars to Rs. 13 crores

SMS Lifesciences India Ltd reports drop in consolidated PAT to Rs. 3.68 crores in Q2

Goodluck India Ltd Q2 consolidated PAT drops to Rs. 6.16 crores

Fairchem Specilaity Ltd consolidated Q2 net profit jumps to Rs. 53.75 crores

Vasundhara Rasayans Ltd posts net profit of Rs. 0.45 crore in Q2

Akar Auto Industries Ltd Q2 standalone net profit at Rs. 0.86 crore

Kuantum Papers Ltd Q2 PAT up at Rs. 19.36 crores

Ashiana Ispat Ltd reports net profit of Rs. 0.58 crore

MAAN Aluminium Ltd Q2 PAT rises to Rs. 3.14 crores

TARMAT Ltd Q2 net profit at Rs. 0.41 crore

Vijay Solvex Ltd posts net profit of Rs. 4.86 crores in Q2

Sterling Tools Ltd consolidated Q2 PAT slides to Rs. 7.01 crores

Ishan Dyes & Chemicals Ltd reports Rs. 1.94 crore PAT in Q2 FY20

Archidply Industries Ltd posts higher PAT of Rs. 1.47 crore in Q2

J Kumar Infraprojects Ltd Q2 standalone PAT rises to Rs. 55.90 crores

Vardhman Holdings Ltd Q2 consolidated PAT declines to Rs. 28.88 crores

Jaysynth Dyestuff India Ltd reports net profit of Rs. 0.61 crore in Q2

Future Lifestyle Fashions Ltd consolidated net profit at Rs. 11.87 crores in Q2

Creative Castings Ltd posts Q2 FY2019-20 net profit of Rs. 0.84 crore

Neuland Laboratories Ltd Q2 consolidated PAT jumps to Rs. 8.68 crores

Surya Roshni Ltd posts standalone PAT of Rs. 22.62 crores in Q2

Suryaamba Spinning Mills Ltd posts higher Q2 PAT of Rs. 1.32 crore in Q2

Surbhi Industries Ltd Q2 net profit at Rs. 0.55 crore

Eldeco Housing & Industries Ltd Q2 consolidated PAT at Rs. 8.23 crores

Paul Merchants Ltd consolidated Q2 net profit at Rs. 5.46 crores

Superhouse Ltd Q2 PAT at Rs. 7.60 crores

Jamna Auto Industries Ltd Q2 PAT plunges to Rs. 6.36 crores

Apollo Micro Systems Ltd Q2 PAT slides to Rs. 2.89 crores

Bannari Amman Spinning Mills Ltd posts consolidated PAT of Rs. 4.06 crores in Q2 FY20

IMPAL Q2 consolidated PAT rises to Rs. 15.75 crores

Ganga Papers India Ltd Q2 net profit at Rs. 0.41 crore

Nectar Lifesciences Ltd consolidated Q2 net profit at Rs. 2.45 crores

Action Construction Equipment Ltd Q2 consolidated net profit at Rs. 14.31 crores

Dhunseri Tea & Industries Ltd Q2 consolidated net profit at Rs. 95 crores







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019