Larsen and Toubro soon to come in General Insurance Field

by khalid on 13/02/2010 · 0 comments

Larsen and Toubro (L&T) is planning to enter into General Insurance Field and the company got permission from IRDA for the same. They have no plan to enter into Life Insurance Space. The new company name will be L&T Insurance. The company has received first stage approval (R1) for its general insurance venture and very much positive to have get next two stages of approval (R1 and R2) from IRDA.

Life Insurance Corporation (LIC) has around 18% stake in L&T and they are not happy with this move of the company.

After getting the next two stages of approval, the company will be in General Insurance Space in next 3 to 6 months that means Q1 of FY11. There are currently 22 non-life insurance players, including four public sector companies, in the country.

Share’s Data :
BSE Code : 500510
Mkt. Cap: Rs 84742 Crores
P/E: 24.36
EPS: 59.44
Face Value : Rs 2
Last bonus : 1:1 in May 2008
Last dividend : 525% in May 2009
52 Week H/L : Rs 1800.00 / 557.00
Larsen & Toubro Ltd. (L&T) share’s CMP is Rs 1447.85 on 11th Feb 2010

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