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Larsen & Toubro, incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 296014.92 Crore) operating in Construction sector.

On the technical charts, the RSI of the stock stood at 53.11.

The OFS will see founders Varun Alagh and Ghazal Alagh and investors such as Sofina, Fireside Ventures, Evolvence India, Stellaris, and angel investors Kunal Bahl, Rishabh Mariwala, Rohit Bansal, and Shilpa Shetty Kundra, dilute their stakes.

Investec has initiated a fast buy rating on Ambuja Cement as it expects incremental disclosures on synergy and scale ambitions. "Our forecasts bake in lower synergy quantum, longer time frame on realization of synergies and thereby we have assigned higher multiples with TP of Rs752/share.

Promoters held 69.59 per cent stake in the company as of 30-Sep-2022, while FIIs owned 5.37 per cent, DIIs 14.45 per cent.

A total of 4,861 shares changed hands on the counter till 11:01AM (IST).

The Nifty Realty index was trading 0.73 per cent down at 424.05.

The stock traded at a P/E multiple of 12.15, while the price-to-book value ratio stood at 1.59.

The board of the company will meet to consider and approve the proposal for issuance of non-convertible debentures by way of private placement in one or more tranches.

“A lot can happen as far as Reliance is concerned. The retail business can get listed as a separate entity. Jio can get listed as a separate entity. They are spending a lot of money on renewable power, hydrogen. For a long-term investor, it will still pay to stay invested in Reliance Industries.”