Larsen & Toubro’s top honchos — AM Naik and K Venkataramanan — have been selling part of their personal equity holdings in the company since last week.
In a separate filings to the stock exchanges, L&T said Chairman Naik had cumulatively sold 1.50 lakh shares on three different dates (March 10, 11 and 14). He has sold another 74,955 shares on Tuesday. The sale value of the shares offloaded was about ₹28.82 crore.
The CEO and Managing Director Venkataramanan also sold 10,000 shares on March 14. The sale value of the shares offloaded stood at ₹1.26 crore.
While Naik now holds 22.42 lakh shares of Larsen & Toubro of ₹2 each, representing 0.26 per cent stake in the company, Venkataramanan holds 8.42 lakh shares, representing 0.092 per cent stake.