MindTree share price: Mindtree jumps, L&T Infotech slips on deal buzz

MindTree share price: Mindtree jumps, L&T Infotech slips on deal buzz

MindTree share price: Mindtree jumps, L&T Infotech slips on deal buzz


NEW DELHI: Shares of Mindtree climbed over 2 per cent and those of Larsen & Toubro Infotech (LTI) fell over 1 per cent on Monday after reports that the latter is eyeing V G Siddhartha’s stake in Mindtree.

According to an ET report, the L&T unit is closing in on a potential deal with serial entrepreneur and Café Coffee Day founder Siddhartha, the single-largest shareholder in the Bengaluru-based, mid-tier IT company.

LTI on Friday said its consolidated net profit increased 32.8 per cent to Rs 375.5 crore for the quarter to December 2018 from the year-ago period. Shares of the company reversed course and fell for the first time in five sessions.

Mindtree last week said its Q3 consolidated net profit grew 35.1 per cent to Rs 191.2 crore. The stock has been on an upward trajectory since last Thursday.

Around 10.35 am, shares of Mindtree traded 1.93 per cent up at Rs 903.95 while those of LTI fell 1.58 per cent to Rs 1,773.



Source link Google news

Post a Comment