Larsen & Toubro (L&T) is going to take up a proposal for share buybackon Thursday.
The engineering and construction conglomerate on Saturday informed bourses that the board will consider the proposal for buyback of shares on August 23.
It also announced that the trading window for dealing in securities will be closed for directors and officers and designated employees of L&T from August 20 to August 24 — both days inclusive. This is in line with the company's internal code for prevention of insider trading.
The company last month reported a 43 cent jump in consolidated net profit at Rs 1,472 crore in the June quarter. It had earned net profit of Rs 1,028 crore in the same quarter last year.
It secured new orders worth of Rs 36,142 crore at the group level during April-June, recording a 37 per cent jump, with a pick-up in domestic orders.
International orders at Rs 9,404 crore made up 26 per cent of the total order inflow.