L&T gains on monetisation plan of certain assets of L&T IDPL
The stock has rallied over 6% in past three trading sessions on the Bombay Stock Exchange.
Larsen and Toubro (L&T) is trading higher by 2% at Rs 1,069, extending its past two day’s nearly 4% rally after the company said it is evaluating options for monetisation of assets belonging to its subsidiary L&T Infrastructure Development Projects Ltd (IDPL).
“The options include an initial public offering (IPO) and the listing in Singapore of selected road assets of L&T IDPL through a business trust,” L&T said in a regulatory filing.
L&T IDPL currently handles a portfolio of infrastructure assets worth Rs 45,000 crore comprising 18 road projects, 2 ports, the Hyderabad Metro Rail project, one power transmission line project and one wind energy project.
The stock opened at Rs 1,042 and touched high of Rs 1,070 on the NSE. A combined 1.46 million shares have changed hands on the counter till noon deals on the NSE and BSE.
“The options include an initial public offering (IPO) and the listing in Singapore of selected road assets of L&T IDPL through a business trust,” L&T said in a regulatory filing.
L&T IDPL currently handles a portfolio of infrastructure assets worth Rs 45,000 crore comprising 18 road projects, 2 ports, the Hyderabad Metro Rail project, one power transmission line project and one wind energy project.
The stock opened at Rs 1,042 and touched high of Rs 1,070 on the NSE. A combined 1.46 million shares have changed hands on the counter till noon deals on the NSE and BSE.