L and T shares rise 2% as the board accepts a borrowing plan of ₹12,000 crore
Larsen & Toubro’s (L&T) share price increased by over 2% in early trade on Monday after the engineering and construction major received board approval for borrowing plans of ₹12,000 crore. L&T shares rose 2.88% to ₹3,515.90 on the BSE.
L&T’s Board of Directors approved long-term borrowings of up to ₹12,000 crore. “…we want to let you know that the Board of Directors of the Company at its meeting played today has approved Long-term loans of up to ₹12,000 crore, including through external commercial borrowings, term loans, non-convertible bonds or any other instrument as may be appropriate,” Larsen and Toubro stated in a filing with the stock exchange on the twentieth of March.
L&T’s board also authorized the nomination of Subramanian Sarma, Whole-time Director & President Energy, as the Company’s Deputy Managing Director & President, effective April 2, 2025, through February 3, 2028. Furthermore, the business’s board accepted the re-appointment of S. V. Desai as Whole-time Director of the company, effective July 11, 2025, until July 4, 2030. It also authorized the reappointment of T. Madhava Das as the company’s full-time director for five years beginning July 11, 2025.
L&T’s stock price has risen 7% in one month but has been down 5% year to date (YTD). Over the last six months, L&T shares have fallen by more than 8%. However, the large-cap stock has returned 61% in two years and more than 390% over the last five years. At 9:25 AM, L&T shares were trading 2.00% higher at ₹3,485.65 per on the BSE.
