L&T chairman, CEO offload stake in company

Tags: Companies
Two top officials of Larsen and Toubro (L&T) Executive Chairman A M Naik and CEO K Venkataramanan sold part of their stakes in the company last week.

In separate filings to the BSE, L&T said that Naik has sold 1.25 lakh shares for Rs 15.70 crore, while Venkataramanan sold 10,000 shares for Rs 1.26 crore.

Both transactions took place on March 14 and the company was informed the same day, the filing showed.

After the sale, Naik holds 23,17,455 shares of L&T of Rs 2 each, amounting to 0.25 per cent stake in the company.

Similarly, Venkataramanan now holds 8,42,873 shares of L&T, amounting to 0.091 per cent stake.

On March 10 and 11, Naik had sold 25,045 shares of L&T for Rs 3.12 crore in two tranches.

Shares of the company were trading at Rs 1240.10 apiece on the BSE at 1350 hours, down 1.23 per cent from the previous close.

EDITORIAL OF THE DAY

  • India's engagement with Iran looks iffy without Farzad gas deal

    India’s quest for West Asian oil is not going to come too easy, anytime soon.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

BK Chaturvedi

Time ripe for state funding of elections

Prime minister Narendra Modi had laid strong emphasis on improved ...

Rajgopal Nidamboor

The resonant cadence of our being

The real voyage of discovery,” wrote Marcel Proust, the French ...

Dharmendra Khandal

Biodiversity day has come and gone. Yet again

Every year on May 22, world celebrates international biodiversity day. ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture