L&T Infotech to double revenues in 3-4 years

Naik reportedly said that over Rs 1,200 crore to be raised through the offering, which will be the third public issue from the diversified Group, will be deployed for acquisitions and working capital requirements.

Jul 05, 2016 09:07 IST India Infoline News Service

L&T Infotech said it is targeting to double its revenues in the next three to four years through acquisitions and organic growth. 
"We will be doubling the revenues in the next 3-4 years," L&T Group's Executive Chairman A M Naik reportedly said.
The company had posted a topline of USD 887 million in 2015-16.
Naik reportedly said that over Rs 1,200 crore to be raised through the offering, which will be the third public issue from the diversified Group, will be deployed for acquisitions and working capital requirements. 

Larsen & Toubro Ltd is currently trading at Rs. 1560.1, down by Rs. 5.1 or 0.33% from its previous closing of Rs. 1565.2 on the BSE.
The scrip opened at Rs. 1566 and has touched a high and low of Rs. 1568 and Rs. 1555.95 respectively. So far 18094(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 145877.89 crore.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1886.25 on 17-Jul-2015 and a 52 week low of Rs. 1016.6 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 1575 and Rs. 1469.5 respectively.
The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 54.51 % and 43.43 % respectively.
The stock is currently trading above its 50 DMA.

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