LOOKING UP - L&T

Article Abstract:

Larsen and Toubro (L&T), an engineering, construction and cement company, has gained the attention of the market when L&T acquired a majority stake in Narmada Cement. The acquisition will enable L&T to get a footing in the western region and enter into the southern markets. L&T can consider the amalgamation of Narmada Cement with itself, as L&T is well diversified and is financially strong. The amalgamation will help Narmada Cement access the funds required for meeting its future expansions. The profitability of both L&T and Narmada Cement is likely to increase as the prices of cement were better in Gujarat and Mumbai. The performance of L&T is likely to be good as it has a backlog of Rs6,500 crore orders and is managing orders worth Rs2,500 crore. Currently, L&T has a total capacity of 10 million tonnes per annum. (ag)(m)

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L&T TO BUY CHOWGULE'S 70% HOLDINGS IN NCL

Article Abstract:

Larsen & Toubro (L&T) has decided to buy out 70 percent stake of the Chowgules in Narmada Cement Ltd (NCL) at Rs34 per share. It is also making an open offer to acquire the balance 30 percent equity in Narmada Cement Ltd at the same price. This acquisition will cost Rs243 crore. After the acquisition, the cement capacity of Larsen & Toubro will increase by 1.4 million tonnes. (gs/kvr)

Comment:

Larsen & Toubro (L&T) has decided to buy out 70 percent stake of the Chowgules in Narmada Cement Ltd (NCL) at Rs34 per share.

Machinery Manufacturing, Special Industry Machinery, Industrial equipment, Industrial equipment industry

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