L&T Finance Holdings drops on share-sale price discount - The New Indian Express

L&T Finance Holdings drops on share-sale price discount

Published: 14th March 2014 12:19 PM

Last Updated: 14th March 2014 12:19 PM

L&T Finance Holdings, a financial holding company offering a diverse range of financial products and services, dropped on Friday after Larsen & Toubro, the promoter of the company has submitteda notice of offer for sale up to 55 million equity shares of face value of Rs. 10 each, constituting 3.23% of the equity share capital of the company (sale shares) today, through the seller's broker on the separate window provided by BSE and NSE.

In addition to the sale shares, the seller may also sell up to 27 million equity shares of face value Rs 10 each of the company in the sale today (the additional shares, and together with the sale shares, the shares).Shares ofthe companyare trading at Rs 75.65, down Rs 3.55, or 4.48% at the Bombay Stock Exchange (BSE) on Friday at 11:55 a.m.The scrip has touched an intra-day high of Rs 76.80 and low of Rs 74.10. The total volume of shares traded at the BSE is 2,229,214.In the earlier session, the shares fell 7.04%, or Rs 6, at Rs 79.20. Currently, the stock is trading down 14.37% from its 52-week high of Rs 88.35 and above 42.74% over the 52-week low of Rs 53.

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