Larsen and Toubro to Buyback Shares Worth Rs 9000 Cr,

The Board of Larsen & Toubro (L&T)  approved a proposal to buy back Rs 9,000 crore worth shares, citing cash on hand and no capital expenditure in near future. Under the proposal, first for the company and the segment, L&T plans to buy back six crore shares at a maximum price of Rs 1,500 apiece, which is over 13% premium to Tuesday’s closing price of Rs 1,322.15.
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