Larsen and Toubro

To sell 2.3 % of Satyam

Posted by : rvk41
Price when posted : BSE: Rs 1640.75 ( 0.29 % ), NSE: Rs. 1640.40 ( 0.08 % )

Larsen & Toubro (L&T), the country’s largest engineering company, is likely to raise over Rs 300 crore by selling one-third of its stake in Mahindra Satyam by Friday morning.

A person close to the development said the company on Thursday evening put 2.7 crore Mahindra Satyam shares on the block with an asking price of Rs 112.50 apiece. The company has appointed Nomura for the sale.

L&T had bought 8.1 crore shares in the Hyderabad-based software exporter last year at an average price of Rs 79 a share. It also made an abortive bid to acquire the company. Tech Mahindra, part of the Mahindra group, acquired the company, and renamed it Mahindra Satyam.

L&T’s shareholding then amounted to 12% of Satyam’s equity capital. But expansion of share capital after the takeover brought it down to 6.9%. At current market price, L&T’s stake is pegged at Rs 951 crore.

For information,with regards
rvk41...

ANY TRUTH

Posted by : tara23
Price when posted : BSE: Rs 1640.75 ( 0.29 % ), NSE: Rs. 1640.40 ( 0.08 % )

news wala ko masala chahiye.......

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Posted by : tara23
Price when posted : BSE: Rs 1640.75 ( 0.29 % ), NSE: Rs. 1640.40 ( 0.08 % )

some new sense is being created......

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Posted by : sudeephingse
Price when posted : BSE: Rs 1640.75 ( 0.29 % ), NSE: Rs. 1640.40 ( 0.08 % )

Ya the news is true,,,, but i guess L&T will be moving downward in tomorrow trade as they are booking loss on sale of share.... ...

ANY TRUTH

Posted by : Varner
Price when posted : BSE: Rs 1640.75 ( 0.29 % ), NSE: Rs. 1640.40 ( 0.08 % )

This news is also being aired on CNBC....

ANY TRUTH

Posted by : radhika_nandlal
Price when posted : BSE: Rs 1640.75 ( 0.29 % ), NSE: Rs. 1640.40 ( 0.08 % )

yes LT plans to sell more than 2 crore shares of Satyam tomorrow at Rs 112.. I just heard the news....

ANY TRUTH

Posted by : Varner
Price when posted : BSE: Rs 1640.75 ( 0.29 % ), NSE: Rs. 1640.40 ( 0.08 % )

wHAT EFFECT WILL IT HAVE ON l&t SHARE PRICE TOMORROW AND ALSO ON THE sATYAM?...

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Posted by : Varner
Price when posted : BSE: Rs 1640.75 ( 0.29 % ), NSE: Rs. 1640.40 ( 0.08 % )

i ALSO THINK THAT IT NOT TRUE BUT ON sATYAM BOARD IT IS A FLOATING NEWS....

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Posted by : radhika_nandlal
Price when posted : BSE: Rs 1640.75 ( 0.29 % ), NSE: Rs. 1640.40 ( 0.08 % )

Varner yes i just heard the news on CNBC TV18 that LT plans to sell more than 2 crore shares at Rs 112 tomorrow...

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Posted by : tara23
Price when posted : BSE: Rs 1640.75 ( 0.29 % ), NSE: Rs. 1640.40 ( 0.08 % )

may not be true(satya) in this......

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Posted by : robin_gupta35
Price when posted : BSE: Rs 1640.75 ( 0.29 % ), NSE: Rs. 1640.40 ( 0.08 % )

im see the news in today utvi
sataym merge in tech mahindra

only that news is comming...

ANY TRUTH

Posted by : Varner
Price when posted : BSE: Rs 1640.75 ( 0.29 % ), NSE: Rs. 1640.40 ( 0.08 % )

The the Satyam Board a news item is roaming that L&T is starting a exit from Satyam,
ANY TRUTH IN IT?...

L&T wins a Contract

Posted by : lion407
Price when posted : BSE: Rs 1640.75 ( 0.29 % ), NSE: Rs. 1640.40 ( 0.08 % )

anirudhdiptiman : I am so glad, I am not getting any -ve vibes of this script!! Almost 10% of my LT is in L&T - based on similar views, however, just wanted to see what experts out here feel.

Cheers n happy investing....

L&T wins a Contract

Posted by : lion407
Price when posted : BSE: Rs 1642.75 ( 0.41 % ), NSE: Rs. 1642.20 ( 0.19 % )

Thank you Sirs.. On technical side - weekly its still fine, on daily charts, just couple of days ago it has broken 20 DMA and came out - may be ready to go up. Lets see....

L&T wins a Contract

Posted by : Guest
Price when posted : BSE: Rs 1636.00 ( 2.65 % ), NSE: Rs. 1639.05 ( 2.60 % )

I fully agree with you Mr. Tunga. There are many activities involved in completing a project. There are also deferred payment terms in the contracts. Unless projecte is fully executed as per the contractual terms no customer will make a final payment. This is the problem in major contracts. L & T only is the capable of handling such projects. ...