Larsen & Toubro is looking to sell stake in L&T Infrastructure Development Projects Ltd, reports said quoting Group Chief Financial Officer R. Shankar Raman.
L&T is looking to raise funds for the expansion of the
infra unit, reports added.
R. Shankar Raman however did not elaborate on the size of the stake sale.
L&T has mandated Morgan Stanley to arrange the sale, according to the reports.
L&T shares on Monday however ended lower, edging down 0.5 per cent to 1,355.05, after trading between 1,382.95 and 1,351.60 during the day. The broader markets edged lower, with the Sensex ending 90 points lower.
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