L&T lost 0.41% to Rs 1,413.10 at 11:56 IST on BSE amid volatility after the Government of India offloaded stake in the company via bulk deal mechanism on the stock exchanges on Friday, 4 November 2016.
Meanwhile, the S&P BSE Sensex was up 198.54 points or 0.73% at 27,472.69.
On BSE, so far 1.61 lakh shares were traded in the counter as against average daily volume of 2.50 lakh shares in the past one quarter. The stock was volatile. The stock lost as much as 0.62% at the day's low of Rs 1,410.10 so far during the day. The stock rose as much as 0.91% at the day's high of Rs 1,431.95 so far during the day. The stock had hit a 52-week high of Rs 1,615 on 27 July 2016. The stock had hit a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had outperformed the market over the past one month till 4 November 2016, sliding 2.07% compared with 3.74% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, declining 3.5% as against Sensex's 1.59% fall.
The large-cap company has equity capital of Rs 186.47 crore. Face value per share is Rs 2.
The Government of India (GoI) through the Administrator of the Specified Undertaking of the Unit Trust of India (Suuti) offloaded a total of 98.82 lakh shares of L&T via bulk deal mechanism on the stock exchanges on Friday, 4 November 2016. It sold 49.41 lakh shares at Rs 1,416.05 per share on the BSE. It liquidated another 49.41 lakh shares at Rs 1,415.65 per share on the NSE. State Bank of India bought 56.55 lakh shares at Rs 1,415.58 per share on the NSE.
Suuti currently holds 8.14% stake in L&T as per the shareholding pattern as on 30 September 2016.
L&T's consolidated net profit rose 45.5% to Rs 609.60 crore on 9.3% growth in net sales to Rs 21718.61 crore in Q1 June 2016 over Q1 June 2015.
L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. It operates in more than 30 countries worldwide.
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