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Larsen And Toubro Gains On Plans Of Monetising IDPL Assets
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Shares in Larsen and Toubro gain 1.4 per cent on 2 December after the company said on Friday, 29 November 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 Rs 141 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 Rs 5000-crore projects.
(Reuters)
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 Rs 141 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 Rs 5000-crore projects.
(Reuters)