LTIMindtree down 2%; sheds 9% in four days after market debut

Shares of LTIMindtree, the merged entity of Larsen and Toubro Infotech (LTI) and Mindtree, were 2 per cent down to Rs 4,588.95 on the BSE in Thursday’s otherwise firm market.

The stock of the Larsen & Toubro (L&T) Group was quoting lower for the fourth straight day, having fallen 9 per cent during this time, after listing of its additional shares under its new name from December 5.

Around 120 million equity shares of Re 1 each, issued after the amalgamation of LTI and Mindtree, were listed and permitted for trading on the exchange with effect from Monday, December 05, 2022.

The merger formalities of LTI and Mindtree were concluded on November 14, 2022. Shareholders of erstwhile Mindtree, which was delisted on November 23, 2022,