L&T gains on plans of monetising certain assets of unit IDPL

Shares in Larsen and Toubro gained 1.4 per cent today after the company said on Friday it is evaluating options "for monetisation" of assets belonging to unit L&T Infrastructure Development Projects Ltd (IDPL).

Options include an IPO or the listing in Singapore of selected road assets of L&T IDPL through a business trust, the company added in the statement to exchanges.

Motilal Oswal in April 2013 valued IDPL at Rs 141 per share on the basis of L&T's equity base, saying the company is on top of National Highway Authority of India's pre-qualification list for Rsa 5000 crore projects.

Copyright: Thomson Reuters 2013