AM Naik sells L&T shares worth Rs 6.42 cr

Engineering and construction major Larsen and Toubro(L&T) today said Chairman and Managing Director AM Naik has sold shares worth Rs 6.42 crore of the company.     

Naik has sold 39,185 shares for Rs 6.42 crore, representing a 0.01 per cent stake in the company, AM Naik said in a filing to the BSE.

However, the mode of transaction has not been disclosed by the company, the filing added.

Prior to the transaction Naik held a 0.36 per cent stake, while now he holds 0.35 per cent or 20,75,126 shares of Larsen and Toubro.

Shares of Larsen and Toubro were trading at Rs 1,390 on the BSE, down 1.64 per cent from the previous close.