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1-min read

Larsen and Toubro Share Price Live: Larsen and Toubro Shares Fall by 0.74% as Nirmala Sitharaman Presents Union Budget 2019​

Union Budget 2019: The BSE group ‘A’ stock of face value Rs 2 has touched a 52-week high of Rs 1,606.70 on 28 May 2019 and a 52-week low of Rs 1,183.40 on 23 October 2018.

News18.com

Updated:July 5, 2019, 4:40 PM IST
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Larsen and Toubro Share Price Live: Larsen and Toubro Shares Fall by 0.74% as Nirmala Sitharaman Presents Union Budget 2019​
File photo of L&T logo.
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Larsen and Toubro shares open at 1,581 on Friday. The stocks fell by 0.74 percent ahead of the union budget. The stock closed at 1,560.05.

Larsen and Toubro recently acquired a majority 60% stake in Mindtree after its open offer to buy 31% shares got oversubscribed. The company had bought 20.32% shares in Mindtree from V G Siddhartha and his Coffee Day Enterprises for over Rs 3,000 crore in March and subsequently made an open offer to buy an additional 31% stake.

The development came within months of Mindtree rejecting a hostile takeover bid from L&T, saying that it will not be in the interest of the company or its shareholders.

The BSE group ‘A’ stock of face value Rs 2 has touched a 52-week high of Rs 1,606.70 on 28 May 2019 and a 52-week low of Rs 1,183.40 on 23 October 2018.

L&T shares have jumped nearly 27% in the last one year compared with a 12% rise in the benchmark Nifty 50 index.

The Institutions and Non-Institutions hold 57.83% and 42.17% stake, respectively, in the company.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.

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