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 latter is eyeing V G Siddharthas stake in Mindtree.
According to an ET report, LT unit is closing in on a potential deal with serial entrepreneur and Caf Coffee Day founder Siddhartha, single-largest shareholder in 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 quarter to December 2018 from year-ago period.
Shares of company reversed course and fell for 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.