Lanco Infratech gets board’s approval to de-merge LHTPP into two units
Hyderabad-based infrastructure firm, Lanco Infratech has informed that the Board of Directors of its subsidiary Lanco Hills Technology Park Pvt. Ltd (LHTPPL) has decided to de-merge LHTPPL into two entities, subject to statutory and various other approvals.
With the de-merger of LHTPPL, the SEZ business would be retained by the existing LHTPPL and the non-SEZ business would be de-merged into a separate company.
The de-merger would be effective from April 1, 2008.
Many stock analysts are bearish on the Lanco Infratech stock in the short-term. They expect that the stock’s medium-term downtrend will persist until the stock crosses its resistance of Rs 105 in the short-term.
As per the present scenario, it is advisable to investors to sit on cash and keep on eye on the stock for correct entry level. Investors with long term horizon of about 3-4 years can pick the stock near support levels.