Mindtree shares zoom 10% after Q4 earnings; IT major anticipates softness in demand ahead due to COVID-19 pandemic
Shares of IT firm Mindtree on Monday rallied 10 percent after the company reported 3.9 percent rise in consolidated net profit for March 2020 quarter
There was no demand made by I-T Department before attaching Mindtree shares and for a “potential” tax demand of Rs 625 crore, shares worth Rs 3,000 crore were attached.
IT firm Mindtree shares plunged nearly 11 percent on Thursday after the company posted a 41.4 percent decline in consolidated net profit for the June quarter
Infrastructure major Larsen and Toubro on Thursday acquired 25,000 equity shares of Mindtree Ltd, taking its total holding in the mid-tier IT firm to 28.90 percent, as per a regulatory filing
After the latest transaction, L&T's shareholding in Mindtree stands at 26.53 percent. The latest stock purchase was made at Rs 979.99 apiece.
Mindtree is in the midst of a takeover battle, with Larsen & Toubro (L&T) seeking to take control of the mid-sized IT firm
Mindtree is in the midst of a takeover battle, with Larsen & Toubro (L&T) seeking to take control of the mid-sized IT firm.
L&T buys 11.52 lakh shares of Mindtree worth Rs 113 cr via open market after buying 20% stake of VG Siddharatha, Cafe Coffee Day
Mindtree's promoters had called L&T bid as hostile and raised corporate governance issues at L&T and culture difference between the two companies.
Coffee Day Enterprises will take 'required action' to get attached Mindtree shares released by I-T dept
Coffee Day Enterprises promoter V G Siddhartha, who owns about 21% stake in Mindtree, is said to be in advanced discussions with various entities to sell his shares in the IT company.
Trading sentiment in Mindtree were hit as the company maintained a cautious business outlook amid volatile macroeconomic scenario across the world.