1. Home
  2. >

L&T offloads entire stake in Ultratech Cement Ltd


Larsen & Toubro Limited (L&T) has informed the stock exchanges that it has sold its complete stake of 11.49%  in  Ultratech  Cement  Limited  in  the  open market on June 11, 2009. The sale was carried out at an average price of around Rs.725 per share. L&T had exited its cement business through a demerger and sale to Grasim in 2004, and had retained 11.49% stake in Ultratech with a commitment to sell the stake on or before 31st Dec, 2009.
The  sale  of  its  complete  stake  in Ultratech Cement  Limited  is  in  accordance with  L&T’s obligations  under  its  agreement  with  Grasim,  and  is  also  in line with L&T’s strategy of focusing on its core business. In its efforts to get the best value for its shareholders, the company decided that the present market conditions were correct for disinvestment of its stake.

Most Popular


Olympia Group announces to build up 1.1mn sq-ft greenfield it park in Guindy
The project will have a total investment of about Rs 750 crore


Vital pre-monsoon building works resume in Maharashtra
The state government has permitted pre-monsoon work by BMC and other agencies

Latest Issue

Sept 2020
01 Sep 2020