On January 5, 2023, the EPC major announced its wholly owned subsidiary of L&T Realty Developers has agreed to sell its entire stake in Think Tower Developers (TTDPL) for Rs 1 lakh.

• Just Dial Stocks Skyrocketed 15% On Announcement of Q4FY24 Business and Financial Updates
• Swing-Trading 101: Capturing Market Moves with Flexibility
• Jubilant Pharmova Shares Climbed 8% On Announcing Ceastion of Loss Making Arm’s Operations in Salisbury, USA
• Paytm Shares Gained 4.5% on NPCL’s Approval To Create New VPAs with Axis, HDFC, SBI, and Yes Bank
• Ambuja Cements Shares Gained 3% On Receiving Additional Rs 8,339 Crore Investment From Adani Group

Till January 30, 2023, the agreement is expected to complete as per closing conditions. The company said that L&T Realty Developers in TTDPL is being sold to Pratik Harshad Kalsariya, who is not part of the promoters’ group.

The company is to engage in EPC projects, hi-tech manufacturing and services. In fifty countries all over the world, it operates.

On a consolidated basis, the net profit of EPC major jumped 22.5% to Rs 2,228.97 crore on a 23% increase in net sales to Rs 42,762.61 crore in July-September of FY23 over July-September of FY22.

L&T’s shares go up 0.48% on BSE to Rs 2,095.10.