|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||974.00 - 985.40|
|52-week range||752.15 - 1,183.80|
|Beta (3Y monthly)||0.96|
|PE ratio (TTM)||21.42|
|Forward dividend & yield||12.00 (1.22%)|
|1y target est||1,021.19|
Engineering behemoth Larsen and Turbo's (L&T) stake in Mindtree rose to 26.48 percent from the earlier 25.94 percent after additional buy via open market on 16 May. It purchased 886,438 shares in the open market at Rs 979.81 apiece, L&T said
Larsen and Toubro (L&T) has acquired another 1,168 shares of Mindtree from the open market, taking its overall holding in the mid-sized IT company to 25.94%.
The infrastructure major is in fray to buy up to 66 percent stake in Mindtree for around Rs 10,800 crore — marking the country's first-ever hostile takeover bid in the IT industry.
Shares of Mindtree closed 0.19 per cent down at Rs 978.60 per share on Thursday at the BSE. L&T is in the midst of acquiring a majority stake in Mindtree, which the promoters of the latter are opposed to.
Over the last few days, the engineering major L&T has been busy acquiring shares of Mindtree from the open market.
Infratsructure major Larsen & Toubro has purchased around 20 per cent stake of V G Siddhartha and Coffee Day in Mindtree through block deal for about Rs 3,210 crore.
On Tuesday, L&T acquired around 3.27 crore Mindtree shares, or almost 20 per cent of the stake, at Rs 980 per share (for a total of Rs 3,211 crore) from Siddhartha and Coffee Day Enterprises through block deals
L&T has placed orders to mop up an additional 15 percent from the market and is expected to cross 26 percent shareholding in one week
Ahead of a potential takeover of the company by L&T, Mindtree’s board on Wednesday proposed to pay a special dividend of `20 per share translating into a total payout of over Rs 320 crore to its shareholders, including promoters.
Mindtree will, however, seek the approval for its proposal at the forthcoming annual general meeting likely to take place in June or July, but there will be no extraordinary general meeting for the same.
Mid-sized IT firm Mindtree Wednesday said its consolidated net profit grew 8.9 per cent to Rs 198.4 crore for the March 2019 quarter, from Rs 182.2 crore in the year-ago period.
The EBITDA margin went down by 0.7% Q-o-Q to 15.2%, which also represents a 0.9% drop Y-o-Y, but the net profit margin grew 0.1% Q-o-Q to 10.8%.
In dollar terms, Mindtree's revenue jumped 15.80 per cent YoY to USD 262 million, while net profit increased merely by 0.3 per cent to USD 28.2 million
Mid-sized IT firm Mindtree, which is facing a hostile takeover bid by infrastructure giant L&T, on Wednesday, announced a special dividend of Rs 20 per share in its Q4 results.
Mid-sized IT firm Mindtree on Wednesday said its consolidated net profit grew 8.9 per cent to Rs 198.4 crore for the March 2019 quarter, from Rs 182.2 crore in the year-ago period.
Culture is primarily rooted in feelings; many may say it has no significant role in the world of money, and doesn’t show up as a balance sheet item. Yet tampering with culture can severely hurt any balance sheet.
On Friday, the Competition Commission of India (CCI) approved L&T's proposed acquisition of 66.15 percent stake in Mindtree. On the social media platform Twitter, CCI said, "@CCI_India approves acquisition of up to 66.15% of the total equity shareholding of Mindtree Limited,
However, we believe any move contrary to having a leaner B/S from now on can lead to a sustained de-rating.
Global software major Mindtree on Tuesday has decided not to proceed with its proposal to buy back shares after infrastructure major Larson and Toubro (L&T) made an open offer to acquire 31 per cent of equity capital for Rs 5,030 crore.