Stock to watch: Larsen and Toubro
DSIJ Intelligence / 26 May 2017
The stock hit its 52-week high at Rs 1784.80 on May 26, 2017, at 09:20 hrs IST.
Larsen & Toubro hit its 52-week high in early trade on Friday, May 26, 2017, as its wholly owned subsidiary, L&T Hydrocarbon Engineering, signed a memorandum of agreement with the Institute of Chemical Technology for the purpose of building entirely indigenous technology based ethanol plants by ICT for the production of second-generation ethanol.
While the speculations about Larsen & Toubro selling its switchgear business for Rs 2,500 crore was rife in the market on May 25, 2017. The stock recovered its lost ground through the continuous rally on May 25 and May 26, 2017, becoming one of the top contributors to BSE Sensex.
L&T had dipped to Rs 1681.90 on May 24, 2017, in a major drop in the stock prices. The stock hit its 52-week high at Rs 1784.80 on May 26, 2017, at 09:20 hrs IST.
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