Great news for Larsen and Toubro (L&T) investors! L&T has decided to increase the price at which they will buy back their shares from Rs 3,000 to Rs 3,200 per share. This engineering and construction giant is set to repurchase shares worth Rs 10,000 crore.
Why the Price Increase? L&T made this decision because the price of their shares went up to Rs 2,985 on September 12. Also, the difference between the buyback price and the market price had become smaller since they first announced it back in July.
L&T’s Rising Share Price: In recent months, the value of L&T shares has been going up. Just a year ago, one L&T share was worth about Rs 1,700 to Rs 1,800. But now, the share price is trading at around Rs 2,850 to Rs 2,925. This is exciting news for people who own L&T shares.