L&T Technology Services, the ancillary of engineering & construction behemoth Larsen & Toubro, shall list its equity shares on 23rd September. The issue price is fixed at Rs.860 per share, the higher end of the price band. The Rs.894-cr issue, which opened for subscription during 12th-15th September, oversubscribed 2.52 times. It was the 2nd company from the Larsen and Toubro Group to hit the capital market with an IPO since the month of July, after L&T Infotech that listed on 21st July.
The 1.04 cr equity shares issue was an offer for sale by its parent company Larsen & Toubro. Hence, the ER&D - engineering, research and development services provider wouldn’t get any money from the issue.
L&T Technology Services provides engineering, research and development services, which is defined as the lot of services provided to manufacturing, technology and process engineering firms, to aid them develop and build products, processes and infrastructure which is required to deliver services and products to their end customers.
LT share price update:
LT share price closed over 2 per cent at Rs.1499.95 on the National Stock Exchange (NSE) today. The scrip opened at Rs. 1,490.00 from a previous closing of Rs. 1,472.10. The total volume traded on the NSE counter today stood at 13,01,967 shares with a traded value of Rs. 19,441.88 lac.
The Larsen & Toubro stock has an ADM or Average Daily Movement of 31.55. Its average volume of 20 days stands at 1295746. The market cap of Larsen & Toubro amounts to Rs. 137248.92 (Cr) while the book value stands at 471.68. The P/E Ratio of the scrip is recorded to be 26.93. In order to know about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a visit to LT share price history.
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