L&T BSE Code: 500510 CMP: ₹1218.25
An engineering giant that holds almost 3.8% weightage in the benchmark index Nifty is in talks to sell its non-core business of electric and automation division for a consideration of ₹15000-17000 core. Schneider Electric SE and its consortium partner Temasek is negotiating for the same. L&T’S electric and automation business accounts for 4% of the total order inflow worth ₹5818 crore while the order book of 1% worth ₹2741 crore as at March 2017. Moreover, the segment generated 4% of the total revenue in FY17 accounting to ₹4969 crore. With this the company is expected to focus on its core businesses majorly of infrastructure, power and engineering.