L&T stock: Can a special dividend by L&T trigger upside in the stock?

0

The stock has underperformed the benchmark S&P BSE Sensex by 22% from March 23 lows.

Synopsis

In early September, L&T received Rs 14,000 crore from the sale of its electrical and automation division to Schneider Electric. A portion of the net proceeds of around Rs 11,500-Rs 12,000 crore after deducting the capital gains tax, will be utilised towards paying the dividend.

ET Intelligence group: L&T’s proposed special dividend may rekindle investors’ interest in the stock. It has been range bound for the past six months due to the concerns over growth in order intake and revenue for its core engineering and construction (E&C) business amid the COVID-19 pandemic.The board of the country’s largest infrastructure company will be meeting on October 28 and if the special dividend is approved then the record

  • GIFT ARTICLE
  • FONT SIZE
  • SAVE
  • COMMENT

To Read the Full Story, Become an ET Prime Member

Sign in to read the full article

You’ve got this Prime Story as a Free Gift

Access the exclusive Economic Times stories, Editorial and Expert opinion

Already a Member?

Why ?

  • Sharp Insight-rich, Indepth stories across 20+ sectors

  • Access the exclusive Economic Times stories, Editorial and Expert opinion

  • Clean experience with
    Minimal Ads

  • Comment & Engage with ET Prime community

  • Exclusive invites to Virtual Events with Industry Leaders

  • A trusted team of Journalists & Analysts who can best filter signal from noise

For the latest news and updates, follow us on Google News. Also, if you like our efforts, consider sharing this story with your friends, this will encourage us to bring more exciting updates for you.

Source

Get real time updates directly on you device, subscribe now.