Friday, November 13, 2009

[Investors Please Listen] Larsen and Toubro (L&T) sold 2.72 crore shares in Mahindra Satyam at an average price of Rs112.5 per share

L&T sells part stake in Mahindra Satyam 
Larsen and Toubro (L&T) sold 2.72 crore shares in Mahindra Satyam at an average price of Rs112.5 per share. At this price, L&T would have made a pre-tax profit of ~Rs83 crore on the deal, considering its average cost of Rs82 per share. Prior to the deal, L&T held a 6.9% stake (8.11 crore shares) in Mahindra Satyam and thus is left with 5.4 crore shares and a stake of 4.6%. There are news flows that the move could possibly have a link to L&T?s interest in acquiring a stake in Patni Computer Systems. 

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