Subsidiaries drive L&T's market capitalisation; stock gains 2.8%

The m-cap of four listed arms is now equivalent to 82 per cent of the parent company's valuation

The stock of Larsen & Toubro, India's largest infrastructure, construction and engineering company, made a new life-time high on Friday. It closed the day with gains of 2.8 per cent against 1 per cent rise in the benchmark Sensex.

The Mumbai-based company’s stock price is now up 30 per cent since the beginning of the current calendar year against a 16 per cent rally in the benchmark index. In all, the stock is up 107 per cent since the end of March last year against an 88 per cent rally in the Sensex.

This makes L&T one of the top-performing large-cap stocks