L&T gains on buzz of its plan to list both IT arms on bourses by July 2016

Larsen & Toubro (L&T) is currently trading at Rs. 1655.20, up by 9.80 points or 0.60 % from its previous closing of Rs. 1645.40 on the BSE. The scrip opened at Rs. 1650.30 and has touched a high and low of Rs. 1673.95 and Rs. 1649.40 respectively. So far 212465 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1650.00 on 02-Jun-2014 and a 52 week low of Rs. 678.10 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 1650.00 and Rs. 1522.80 respectively. The current market cap of the company is Rs. 154278.25 crore. The Institutions holding in the company stood at 55.07 % while Non-Institutions held 42.25% of the stake. Larsen & Toubro (L&T) is reportedly planning to list both its IT arms on stock exchanges by July 2016. The two firms comprise L&T Technology Services and L&T Infotech. The company reported a growth of 14.26% in consolidated net revenue for FY14 at Rs 85,128.4 crore from Rs 74,498 crore last fiscal. Of this, L&T Technology Services and Infotech together reported income of Rs 110 crore in FY’14. L&T Infotech provides IT services and solutions in various verticals including banking, insurance, energy and utilities, auto and aerospace, while L&T Technology Services provides end-to-end services, including product design, analysis, prototyping and testing, embedded system design, manufacturing engineering, plant and construction engineering, asset information management and engineering process support.