Financial Daily from THE HINDU group of publications
Wednesday, Sep 18, 2002
Financial Daily from THE HINDU group of publications Wednesday, Sep 18, 2002 |
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Mergers & Acquisitions Corporate - Mergers & Acquisitions Grasim raises L&T stake to 14.15 pc Our Bureau
MUMBAI, Sept. 17 GRASIM Industries Ltd has further increased its holding in Larsen & Toubro Ltd to 14.15 per cent after it acquired 1.26 lakh shares amounting to 0.05 per cent stake. According to Grasim officials, the recent stake increase was done through market purchases since September 9 at around Rs 176 per share. After these purchases, Grasim's shareholding in L&T is 351.84 lakh shares. Grasim had originally acquired 10 per cent stake in L&T from Reliance Industries Ltd. Thereafter, Grasim further upped its stake through open market purchases at around Rs 176 per share.
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