Larsen &Toubro (L&T) has promoted Subramanian Sarma, a graduate of IIT Mumbai, to Deputy Managing Director & President from his current role as Whole-Time Director & President, the company announced in an exchange filing on March 21. 

Sarma’s new role will be effective from April 2, 2025, and his tenure has been extended until February 3, 2028. 

Following the announcement, L&T shares closed 2.03% higher at Rs 3,417.35 on Friday, up from the previous close of Rs 3,349.20. The stock remained in focus as the company also disclosed plans to raise funds through a debt issue. 

(Mint)