Larsen and Toubro (L&T), a engineering giant, made its entry into the list of the top-10 most valuable companies by market capitalisation (m-cap), after a sharp rally in its stock.
With a m-cap of Rs 1,46,067 crore (Rs 1.46 trillion), L&T now features at tenth rank in the list and replaces a leading housing finance provider company Housing Development Finance Corporation (HDFC) in this prestigious club. HDFC has m-cap of Rs 1,43,834 crore.
At 1205 hours, shares in L&T were traded higher by about 2% to Rs 1,575, while HDFC was down marginally 0.58% at Rs 921.05 on the Bombay Stock Exchange (BSE).
L&T, the largest engineering and construction firm in India, is a direct beneficiary of the strong domestic infrastructure development and industrial capital expenditure boom. The company is likely to benefit significantly from the impending revival in the domestic economy.
Today, the company said its subsidiary L&T Special Steels and Heavy Forgings entered into a technology transfer agreement with Japan Steel Works.
Meanwhile, from the recent low of Rs 986 touched on February 13 this year, L&T has rallied over 60% compared to 21% rise in market value of HDFC. L&T hit a record high of Rs 1,623 on May 26, 2014.
L&T having m-cap of Rs 91,382 crore on February 13, 2014, climbed eight positions in the m-cap pecking order to become the tenth valuable publically traded firm.
During the period, L&T has surpassed auto giant Tata Motors, telecom major Bharti Airtel, state-owned power company NTPC, IT majors – Wipro and HCL Technologies, pharma giant Sun Pharmaceutical Industries and FMCG major Hindustan Unilever.
With a m-cap of Rs 1,46,067 crore (Rs 1.46 trillion), L&T now features at tenth rank in the list and replaces a leading housing finance provider company Housing Development Finance Corporation (HDFC) in this prestigious club. HDFC has m-cap of Rs 1,43,834 crore.
At 1205 hours, shares in L&T were traded higher by about 2% to Rs 1,575, while HDFC was down marginally 0.58% at Rs 921.05 on the Bombay Stock Exchange (BSE).
L&T, the largest engineering and construction firm in India, is a direct beneficiary of the strong domestic infrastructure development and industrial capital expenditure boom. The company is likely to benefit significantly from the impending revival in the domestic economy.
Today, the company said its subsidiary L&T Special Steels and Heavy Forgings entered into a technology transfer agreement with Japan Steel Works.
Meanwhile, from the recent low of Rs 986 touched on February 13 this year, L&T has rallied over 60% compared to 21% rise in market value of HDFC. L&T hit a record high of Rs 1,623 on May 26, 2014.
L&T having m-cap of Rs 91,382 crore on February 13, 2014, climbed eight positions in the m-cap pecking order to become the tenth valuable publically traded firm.
During the period, L&T has surpassed auto giant Tata Motors, telecom major Bharti Airtel, state-owned power company NTPC, IT majors – Wipro and HCL Technologies, pharma giant Sun Pharmaceutical Industries and FMCG major Hindustan Unilever.
