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Coronavirus: Promoters of mid-tier IT firms increase stake as shares crash

Bengaluru-headquartered IT firm Mindtree witnessed its promoter L&T Group buying 0.4 per cent stake in the company through open market operations for around Rs 58 crore during this period.

Coronavirus | Indian IT firms | India Inc shares buyback

Debasis Mohapatra  |  Bengaluru 

money, investment, shares, negotiations
Blackstone, private equity investor and majority stakeholder of Mphasis, raised its stake by 4 per cent in the Bengaluru-headquartered firm by buying 7.48 million shares for around Rs 525 crore during March 17-20.

As stocks of IT services firms took a hit over the past fortnight owing to the Covid-19 pandemic, promoters of some mid-tier bought back shares to increase their stakes.



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First Published: Mon, April 06 2020. 21:05 IST