Larsen & Toubro to list L&T Infotech by Dec 2015, shares up

Share price of Larsen & Toubro gained around 2 per cent in the morning trade on Tuesday on news of the company listing its IT services unit L&T Infotech by December this year.

The company is also looking to list its other businesses including its hydrocarbons and transmission and distribution units over the next few years.

The share price of the company closed at Rs 1,765.05, up 1.96 per cent against its previous close. The BSE Sensex gained 0.27 per cent at 27,704.37.

On June 22, it informed BSE that its metallurgical and material handling business has secured new orders worth Rs 1,507 crore across various verticals.

For the quarter ending March 2015, L&T posted net profit of Rs 2060.65 crore, down 24.34 crore, against Rs 2723.48 crore in the corresponding quarter a year ago.

(With inputs from Reuters)