REFILE-India's Tech Mahindra gains on share block sale price
(Corrects Tech Mahindra's Reuters Instrument Code in paragraph 1)
MUMBAI Dec 12 (Reuters) - India's Tech Mahindra rose as much as 4.9 percent on Wednesday after a block sale of 9.3 million shares, widely seen as coming from BT, fetched a higher-than-expected price.
BT was set to sell its 9.1 percent stake in the Indian IT services provider on Wednesday at a floor price of 855 rupees, according to a term sheet seen by Reuters.
The National Stock Exchange reported on Wednesday a block sale at 871 rupees per share. The exchange did not name the seller, but traders widely attributed it to BT.
Tech Mahindra shares were up 4.3 percent as of 0354 GMT. (Reporting by Abhishek Vishnoi and Rafael Nam; Editing by Sunil Nair)
- Tweet this
- Share this
- Digg this
- Netanyahu vows to complete Gaza tunnels destruction
- China should set lower 2015 GDP growth target of 6.5-7 pct - IMF
- U.S. says hopeful of WTO deal with India only hours before deadline
- UPDATE 2-Argentina defaults but investors see deal possible eventually
- Cricket - India four down and facing England defeat
The United States said on Thursday it was hopeful that differences between India and much of the rest of the world over a major trade agreement could be resolved in time, with only hours remaining before the deal has to be signed. Full Article
ONGC, Oil India bid $1.5 bln for stake in Murphy Oil's Malaysia assets - sources Full Article