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Larsen & Toubro, incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 313267.93 Crore) operating in Construction sector.

The stock traded at a P/E multiple of 7.98, while the price-to-book value ratio stood at 0.63.

Bookings in China for trips abroad during the upcoming May Day holiday point to a continued recovery in travel to Asian countries. Still, the numbers remain far off pre-COVID-19 levels with long-haul airfares soaring and not enough flights available.

The euro rose above $1.10 overnight and was still going at $1.1062 early in the Asia session. Trade was thinned by holidays in Australia and New Zealand and ahead of central bank meetings in Japan on Friday and the U.S. and Europe next week.

The stock emerged as a top gainer in the IT space. Continuing its prior rising trend, the stock rose to a 52-week high of Rs1,230. The key technical indicators formed a bearish divergence on the short-term timeframe chart.

Investors would also keep an eye on key global events such as the Bank of Japan interest rate decision and GDP data for several important economies including the US, Eurozone and Germany.

About 88.6% of the institutional investors voted against the first resolution, while 86.3% opposed the other. As the number of votes cast in favour of the special resolution is not more than three times the number of votes cast against the special resolution, the said resolutions have not been passed by the shareholders, the company said in a regulatory filing.

"The companies are engaged in preliminary discussions to explore potential strategic options including potential combination and listing of the retail mortgage portfolio of JM Financial and the home finance business of IndoStar Home Finance Private Limited including other mortgage-backed business of IndoStar," JM Financial said in a regulatory filing to stock exchanges.

ET had reported in its February 3 edition that the promoters of IndusInd Bank had received an in-principle nod from the RBI to hike stake in the bank to 26%. To increase the stake Hindujas would need more than ₹10,000 crore.

The (EOIs) were submitted earlier this month and are now being reviewed by the bank to shortlist names for the second phase of the process, which will be opened for a limited number of bidders. Those making the second short-list will get access to more detailed information on the company and its management team.