Larsen and Toubro (L&T) is trading higher by 2% at Rs 1,416 on media reports that the company has emerged as a successful bidder to build Batinah road project (package 4) in the northwest of Oman.
The estimated project cost is around $352mn (approximately Rs 2,100 crore) and has a construction period of two years, the Reuters report suggests.
Meanwhile, the company has fixed July 13, 2013 as the record date to determine the members entitled to receive the bonus shares.
The board of directors of the engineering giant at their meeting held on May 22, had recommended the issue of bonus shares in the ratio of 1:2 (i.e. one bonus equity share of Rs 2 for every two fully paid up equity shares of Rs 2 each held).
The stock opened at Rs 1,414 and hit a high of Rs 1,418 on NSE. A combined around 195,000 shares have changed hands on the counter so far on NSE and BSE.
The estimated project cost is around $352mn (approximately Rs 2,100 crore) and has a construction period of two years, the Reuters report suggests.
Meanwhile, the company has fixed July 13, 2013 as the record date to determine the members entitled to receive the bonus shares.
The board of directors of the engineering giant at their meeting held on May 22, had recommended the issue of bonus shares in the ratio of 1:2 (i.e. one bonus equity share of Rs 2 for every two fully paid up equity shares of Rs 2 each held).
The stock opened at Rs 1,414 and hit a high of Rs 1,418 on NSE. A combined around 195,000 shares have changed hands on the counter so far on NSE and BSE.
