Larsen and Toubro Ltd (L&T) , India's biggest engineering company, will buy out Komatsu Ltd's 50 percent stake in their joint venture that makes construction equipment and hydraulic components.
After the transaction, L&T-Komatsu Ltd will become a fully-owned L&T subsidiary, it said in a statement on Saturday.
Financial details were not disclosed.
Larsen stock price
On November 24, 2015, Larsen and Toubro closed at Rs 1342.35, down Rs 26.55, or 1.94 percent. The 52-week high of the share was Rs 1892.95 and the 52-week low was Rs 1325.55.
The company's trailing 12-month (TTM) EPS was at Rs 53.80 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 24.95. The latest book value of the company is Rs 398.08 per share. At current value, the price-to-book value of the company is 3.37.
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