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After the sale, Naik holds 23,17,455 shares of L&T of Rs2 each, amounting to 0.25% stake in the company. Similarly, Venkataramanan now holds 8,42,873 shares of L&T, amounting to 0.091% stake. Photo: Priyanka Parashar/Mint
After the sale, Naik holds 23,17,455 shares of L&T of Rs2 each, amounting to 0.25% stake in the company. Similarly, Venkataramanan now holds 8,42,873 shares of L&T, amounting to 0.091% stake. Photo: Priyanka Parashar/Mint

L&T chairman, CEO offload stake in company

A.M. Naik has sold 1.25 lakh shares for Rs15.70 cr, while K. Venkataramanan sold 10,000 shares for Rs1.26 cr

New Delhi: Two top officials of Larsen and Toubro Ltd. (L&T), executive chairman A.M. Naik and chief executive officer (CEO) K. Venkataramanan, sold part of their stakes in the company last week.

In separate filings to the BSE, L&T said that Naik has sold 1.25 lakh shares for Rs15.70 crore, while Venkataramanan sold 10,000 shares for Rs1.26 crore. Both transactions took place on 14 March and the company was informed the same day, the filing showed.

After the sale, Naik holds 23,17,455 shares of L&T of Rs2 each, amounting to 0.25% stake in the company. Similarly, Venkataramanan now holds 8,42,873 shares of L&T, amounting to 0.091% stake.

On 10 and 11 March, Naik had sold 25,045 shares of L&T for Rs3.12 crore in two tranches.

On Tuesday, shares of L&T fell 1.17% to close at Rs1,240.80 on BSE. PTI

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