Criticized for staying too long at the helm, the 78-year-old may be the company’s only hope of cashing in on the government’s coming infra push.
On 31 August, Larsen & Toubro Ltd finally concluded the sale of its electrical and automation division to French energy management and automation firm Schneider Electric. The deal will fetch the Mumbai-based engineering and construction behemoth Rs 14,000 crore in cash.
Analysts and investors have long waited and watched on the sidelines, hoping that the company will part with some of that money by announcing a special dividend. L&T hasn’t so far said anything about what it intends to do with the cash.
When the deal was first inked in 2018, L&T CEO and managing director S.N. Subrahmanyan had said, …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai