L&T gains on plans of monetising certain assets of unit IDPL

Reuters Market Eye - Shares in Larsen and Toubro gain 1.4 percent after the company said on Friday it is evaluating options "for monetisation" of assets belonging to unit L&T Infrastructure Development Projects Ltd (IDPL).

Options include an IPO or the listing in Singapore of selected road assets of L&T IDPL through a business trust, the company added in the statement to exchanges.

Motilal Oswal in April 2013 valued IDPL at 141 rupees per share on the basis of L&T's equity base, saying the company is on top of National Highway Authority of India's pre-qualification list for 50 billion rupees projects.

(Reporting by Abhishek Vishnoi)