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    Nalanda Cap to exit stake in MindTree; stock down

    MindTree touched an intraday high of Rs 380 and an intraday low of Rs 361.10. At 14:04 hrs the share was quoting at Rs 377.50, down Rs 4.35, or 1.14% on the NSE. Nalanda Capital may exit part or whole stake in MindTree, quoting Sources, reports CNBC-TV18.

    March 15, 2011 / 16:14 IST

    MindTree touched an intraday high of Rs 380 and an intraday low of Rs 361.10. At 14:04 hrs the share was quoting at Rs 377.50, down Rs 4.35, or 1.14% on the NSE.

    Investors seem to be concerned after MindTree saw some restructing in the company post its executive chairman, Ashok Soota's exit. Nalanda Capital may exit part or whole stake in MindTree, quoting Sources, reports CNBC-TV18.

    Nalanda Capital holds 9.8% stake in MindTree which is currently valued at Rs 115 crore. It is learnt that Nalanda Capital may pull its share down to 2% and is currently in talks with mutual funds and foreign institutional investors (FIIs) for the stake sale.

    Meanwhile, sources add that Subroto Bagchi who is currently vice chairman of the company may step into Soota

    first published: Mar 15, 2011 02:00 pm

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