Larsen & Toubro (L&T) share price gained over 2% in early trade on Monday after the engineering and construction major announced board approval for borrowing proposals worth ₹12,000 crore. L&T shares gained as much as 2.88% to ₹3,515.90 apiece on the BSE.
L&T said its Board of Directors approved Long term borrowings of upto ₹12,000 crore.
“…we wish to inform you that the Board of Directors of the Company at its meeting held today has approved Long term borrowings of upto ₹12,000 crore, including through external commercial borrowings, term loans, non-convertible debentures or any other instrument as may be appropriate,” Larsen & Toubro said in a stock exchange filing on March 21.
L&T’s board also approved the appointment of Subramanian Sarma, Whole-time Director & President, Energy as the Deputy Managing Director & President of the Company with effect from 2 April, 2025 to 3 February, 2028.
Additionally, the company's board also approved re-appointment of S. V. Desai as Whole-time Director of the company with effect from July 11, 2025 to July 4, 2030. It further approved re-appointment of T. Madhava Das as Whole-time Director of the company for a term of five years with effect from July 11, 2025.
L&T Stock Price Trend
L&T share price has gained 7% in one month, but has declined 5% on a year-to-date (YTD) basis. In the past six months, L&T shares have dropped over 8%. However, the large-cap stock has delivered 61% returns in two years and multibagger returns of over 390% in the past five years.
At 9:25 AM, L&T shares were trading 2.00% higher at ₹3,485.65 apiece on the BSE.
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