Durability score
65 /100
Valuation score
24 /100
Momentum score
58.1 /100
Market Capitalizati...
214,199.9 Cr.
AVG Broker Target
1,638.2
PE TTM Price to Ear...
20.9
Larsen & Toubro Ltd.    
14 Jun 2019
1527.00
0.62%
Larsen & Toubro Ltd.    
13 Jun 2019
1527.00
0.62%
Larsen & Toubro (L&T): finger-pointing as company tries to take over Mindtree

Larsen & Toubro (L&T) has been looking to acquire a majority stake in IT firm Mindtree, but has found itself running into hurdles with minority shareholders. The company currently has a holding of 28.9% in Mindtree via buyouts and insider trade deals, and has been looking to acquire over 66% in the company. The open offer that launches on June 17 and closes on the 28th, will enable L&T to potentially acquire 31% more in Mindtree, bringing their stake to just under 60%. 

L&T had launched its takeover bid by signing an agreement with Cafe Coffee Day chairman VG Siddhartha in March, and bought his 20.32% stake in Mindtree in a block deal at Rs 980 per share in April. L&T said at the time that Siddhartha had approached them with the buyout proposal. 

The conflict however, is ongoing. A handful of institutional investors of L&T, and Mindtree have reportedly written to SEBI to complain against investor Pulak Prasad, the founder of Nalanda Capital, for attempting to persuade other minority investors into rejecting L&T's offer to buy their shares. The report, first mentioned by ET, says that a letter sent to SEBI noted that Prasad is working with Mindtree promoters to dissuade institutional investors from selling to L&T. The argument Prasad is making is that L&T is not offering a fair price for Mindtree shares.

This could potentially be an illegal action, depending on how many stakeholders that Prasad is working with - by regulation, if at least 25% of stakeholders are trying to prevent a takeover bid, the only way such an effort can launch is if these investors have an alternate counter-offer for Mindtree at a higher price. 

However, can Mindtree put any significant brakes on the takeover? With the open offer approved for launch by SEBI, that looks unlikely. And the recent letter to SEBI can also put hostile investor actions under scrutiny, with significant risks for parties involved with resisting the bid. 

Larsen & Toubro Ltd. is trading above all available SMAs
Larsen & Toubro Ltd.    
11 Jun 2019
1527.00
0.62%
Economic Times
I will go for safe bets like Siemens and Larsen & Toubro in infra and capital goods space.
Larsen & Toubro Ltd. has gained 15.55% in the last 1 Month
Larsen & Toubro Ltd.    
11 Jun 2019
1527.00
0.62%
Larsen & Toubro Ltd.    
11 Jun 2019
1527.00
0.62%
Business Line
JSW Steel on Tuesday reported four per cent growth in crude steel output at 14.53 lakh tonne (LT) during May 2019. The Sajjan Jindal-led steel player
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Larsen & Toubro Ltd. has an average target of 1638.22 from 13 brokers.
Larsen & Toubro Ltd.    
10 Jun 2019
1527.00
0.62%
LARSEN & TOUBRO LTD. - 500510 - Update On Divestment Of Electrical & Automation Business
BSE India
We refer to our intimations to stock exchanges on the captioned subject dated May 1, 2018 and April 18, 2019, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. In this regard, Schneider Electric India (P) Ltd has informed us that in fulfillment of the conditions precedent to the transaction contained in the Business Transfer Agreement dated May 1, 2018, they have received the order of the Hon'ble Competition Commission of India (CCI), approving the proposed combination subject to the conditions contained therein. Kindly take note of the above.
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Larsen & Toubro Ltd.    
10 Jun 2019
1527.00
0.62%
Larsen & Toubro Ltd.    
08 Jun 2019
1527.00
0.62%
Larsen & Toubro Ltd - 500510 - Compliance Under Regulation 23(9) Of The Securities And Exchange ...
BSE India
In terms of Regulation 23(9) of the LODR Regulations, we enclose herewith disclosure of Related Party Transactions on a consolidated basis, in the format specified in the relevant accounting standards for the year ended March 31, 2019. Kindly note that the Company has published its standalone and consolidated financial results for the year ended March 31, 2019 on May 10, 2019. We request you to take the same on record.
Larsen & Toubro Ltd.    
07 Jun 2019
1527.00
0.62%
Larsen & Toubro (L&T) sells in LTTS as it acquires Mindtree shares

Engineering and construction conglomerate Larsen & Toubro (L&T) has sold 40.34 lakh shares of its subsidiary L&T Technology Services (LTTS) through an Offer for Sale that it completed between 4th June and 6th June after the company ramped up its stake in Mindtree. Prior to the sale L&T held 78.05% in its technology services company. 

Number of FIIs/FPIs holding stock rose by 16 to 969 in Mar 2019 qtr.
Larsen & Toubro Ltd.    
06 Jun 2019
1527.00
0.62%
  • Month Change by 15.55% (Crossed threshold 15%) on 14 June, 2019
  • Axis Direct increased Buy price target of Larsen & Toubro Ltd. to 1498.0 on 20 May, 2019.
  • Week Change by 12.97% (Crossed threshold 10%) on 24 May, 2019
  • Stock Price (1454.0) crossed above 30 Day SMA (1362.17) on 20 May, 2019
  • Stock Price (1454.0) crossed above 50 Day SMA (1365.57) on 20 May, 2019
More triggered alerts
Ex-Date Dividend Amount Dividend Type Record Date
Aug. 14, 201816.00FINAL-
Aug. 11, 201714.00FINAL-
Aug. 18, 201618.25FINAL-
Sept. 1, 201516.25FINAL-
Aug. 13, 201414.25FINAL-
All dividends by LT
Ex-Date Dividend Bonus Ratio Record Date
July 13, 20171:2July 14, 2017
July 11, 20131:2July 13, 2013
Oct. 1, 20081:1Oct. 3, 2008
Sept. 28, 20061:1Sept. 29, 2006
All bonuses by LT