|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||879.20 - 896.00|
|52-week range||652.05 - 995.00|
|Beta (5Y monthly)||0.10|
|PE ratio (TTM)||23.57|
|Forward dividend & yield||16.00 (1.81%)|
|1y target est||1,021.19|
Shares of Bengaluru-based IT firm Mindtree on Thursday fell by over 1.7 percent to its lowest since 27 February 2019. The stock touched an intraday low of Rs 890.50 apiece on NSE. On Wednesday evening, Mindtree in a statement to the
On Wednesday, Larsen & Toubro (L&T) completed acquiring a majority stake in Bengaluru-based Mindtree in India's first IT sector hostile takeover. On Tuesday, Economic Times reported that in the engineering and construction major's ongoing open market offer, it had reached 48
Indian conglomerate Larsen and Toubro Ltd (L&T) has acquired a controlling stake in IT services company Mindtree Ltd, CNBC TV18 channel reported citing sources. The report comes within months of Mindtree rejecting a hostile takeover bid from L&T, saying that the plan was of no value for the firm or its shareholders. L&T's hostile bid to acquire a controlling stake in Mindtree is the first in India's software services industry and is rare in India's corporate sector, where unsolicited suitors are usually deterred by founders with large shareholding.
Proposal cleared by nomination and remuneration committee and the board will now be put to vote for shareholders at the firm s annual general meeting.
The shareholders of the target company are advised to independently evaluate the open offer and take an informed decision about tendering the equity shares held by them in the open offer, said a BSE filing on Tuesday.
The open offer for acquisition of over 5.13 crore equity shares, representing 31% of the voting share capital of Mindtree, will now open on June 17 and end on June 28
Larsen & Toubro Ltd (L&T) has received clearance from the Securities and Exchange Board of India (SEBI) to make an open offer to acquire more shares of Bengaluru-based IT firm Mindtree, according to a CNBCTV18 report citing sources. The report further
L&T entered into a deal to buy Cafe Coffee Day owner V G Siddhartha's 20.32% stake in Mindtree and had also placed an order with brokers to pick up another 15% of the company shares from the open market.
Shares of engineering behemoth Larsen & Toubro (L&T) surged to a fresh 52-week high of Rs 1,590 apiece on Monday on BSE, as well as NSE. The company raised its stake in Bengaluru-based Mindtree Ltd by around 2 percent between 20
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.
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.