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REFILE-BUZZ-India's Larsen & Toubro rises on block deals
June 21, 2017 / 4:51 AM / 6 months ago

REFILE-BUZZ-India's Larsen & Toubro rises on block deals

(Corrects spelling of SUUTI in fourth bullet)

** Shares of Larsen & Toubro Ltd up as much as 1.8 pct at 1,782.00 rupees, highest in over a week; stock top pct gainer on the NSE index

** About 23.7 mln shares change hands in six block deals on the BSE

** Indian govt’s Specified Undertaking of the Unit Trust of India (SUUTI) sold nearly 1 pct stake in company through single block deal, according to media reports citing bankers aware of the development

** SUUTI is free to sell whatever they want without informing the company, a source at L&T who did not wish to be identified told Reuters

** About 32,600 shares were traded in a single block deal on the NSE

** Up to Tuesday’s close, stock had risen about 29.75 percent this year

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