26th
January
2009
L&T Increases Stake in Satyam from 4% to 12%
posted in News |
Larsen & Toubrp has increased its stake in Satyam Computer Services from 4% to 12%. Bulk of the buying was done by the infrastructure giant on Friday. The Satyam stock witnessed huge volumes during the day. The company has not yet commented on the move.
As per records on the NSE website, L&T bought 3.9 crore Satyam shares at Rs 34.52 per share. Sources said L&T increased the stake to protect the company’s interest in Satyam.
Earlier, L&T had picked up a 3.95% stake in Satyam, when the IT company was already facing rough weathers for its attempt to acquire Maytas Infra and Maytas Properties. The full-blown Rs 7,000-crore corporate scandal, however, had not broken then.
This entry was posted
on Monday, January 26th, 2009 at 4:28 am and is filed under News.
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.