Buyback of Rs 10,000 crore announced by the company, complete details inside including record date!
The shares of the company have generated an impressive return of 170 per cent in the last three years
On its latest exchange filing, Larsen and Toubro Limited has announced important information regarding its buy-back and record date for the same.
As per the report, Larsen and Toubro announced that the board of directors has approved the proposal to buy back a total of 33,333,333 (Thirty-Three Million Three Hundred Thirty-Three Thousand Three Hundred and Thirty-Three) fully paid-up Company equity shares with a nominal worth of Rs 2 (Two Rupees only) each.
Also, read my recent articles - click here
The complete cost for this could reach up to Rs 10,000 Crore (Ten Billion Rupees only), with the highest possible share price of Rs 3,000 (Three Thousand Rupees only) per equity share.
The Company has designated September 12, 2023, as the Record Date for the purpose of ascertaining the entitlement and the names of equity shareholders who are eligible to partake in the buyback.
On Friday, the company's shares opened on the BSE at Rs 2686.95 and concluded the day at Rs 2639.40 each, marking a decrease of 1.79 per cent or Rs 48.05 from the previous day's closing price of Rs 2687.50. The current market capitalization of the company is Rs 3,71,013 crore. Its 52-week highs and lows are Rs 2767 and Rs 1798, respectively.
DSIJ’s ‘Flash News Investment' weekly Newsletter recommends profit-making ideas for you based on fundamental and technical analysis. If this interests you, do download the service details here.
Larsen & Toubro Ltd is a multinational conglomerate primarily engaged in offering engineering, procurement, and construction (EPC) solutions in key sectors such as Infrastructure, Hydrocarbon, Power, Process Industries, Defence, Information Technology, and Financial Services in both domestic and international markets.
Disclaimer: This article is for informational purposes only and not investment advice.