Shares in Larsen & Toubro<http://www.moneycontrol.com/india/stockpricequote/engineering-heavy/larsentoubro/LT>gain 3.1%, after earlier gaining as much as 4.3%, after Japan's Kyodo News quotes a Mitsubishi Heavy Industries Ltd. executive expressing interest on Monday in acquiring a stake in L&T Shipbuilding "within a few years."
Mitsubishi Heavy currently provides L&T Shipbuilding with technological assistance, ranging from design drawings to quality control, under a tie-up agreement signed by the two companies in December. However, L&T says no discussion has taken place on a stake sale. "So far we have no discussions on this at all," said .V. Kotwal, President of L&T Heavy Engineering, tells Reuters. "But if in future such a situation arises, definitely we will be looking at it on merit," he added, referring to a stake sale. "Right now there is no such agreement or discussion." -- CA. Rajesh Desai -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
