'Mindtree is independent': L&T tells shareholders after shares plunge

Mindtree shares have lost close to a quarter of their value in the last two trading sessions at stock exchanges

After Mindtree lost close to a quarter of its market capitalisation in two trading sessions, Larsen & Toubro (L&T) on Monday tried to calm the frayed nerves of the company’s shareholders and employees, apart from its customers.

S N Subrahmanyan, chief executive officer (CEO) and managing director (MD) of the Mumbai-headquartered conglomerate, said that Mindtree would continue to run as an independent entity and there would be no alteration of positions at the Bengaluru-headquartered information technology (IT) services firm.

“Mindtree will be run as a separate entity, distinct from L&T Infotech and L&T Technology Services. The entities would be run