 "L&T marginally up on infra unit stake sale news")
Mumbai: Shares in Larsen & Toubro was up marginally, outperforming falls in the Nifty, after The Economic Times reported that its infrastructure unit is looking to raise Rs 2500 crore by selling up to a 20 percent stake to investors.
The report, cites three people familiar with the negotiations, said L&T Infrastructure Development Projects is already in talks with potential buyers.
[caption id=“attachment_665233” align=“alignleft” width=“380”] An L&T spokesman declined to comment. Reuters[/caption]
An L&T spokesman declined to comment.
“We view this news as a material positive for L&T, given that L&T IDPL has been a major overhang on the stock on back of huge investment commitments and limited cash inflow,” brokerage Edelweiss said in a note seen by Reuters.
Reuters
 "Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?")
 "As Russia pushes east, Ukraine faces mounting pressure to defend its heartland")
 "Why Mossad was not on board with Israel’s strike on Hamas in Qatar")
 "Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe")
 "Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?")
 "As Russia pushes east, Ukraine faces mounting pressure to defend its heartland")
 "Why Mossad was not on board with Israel’s strike on Hamas in Qatar")
 "Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe")
