Mumbai: Engineering and construction major Larsen and Toubro Thursday said chairman and managing director AM Naik has sold shares worth Rs6.42 crore of the company.
Naik has sold 39,185 shares for Rs 6.42 crore, representing a 0.01% stake in the company, AM Naik said in a filing to the BSE.
However, the mode of transaction has not been disclosed by the company, the filing added.
Prior to the transaction Naik held a 0.36% stake, while now he holds 0.35% or 20,75,126 shares of Larsen and Toubro.
Shares of Larsen and Toubro were trading at Rs1,390 on the BSE, down 1.64 % from the previous close.