Sharemasterindia.com: L&T Finance shares jumped as much as 9.5 per cent on Tuesday after
The Economic Times reported that private equity fund Warburg Pincus is
in talks to buy 25 per cent stake in the financial services company.
L&T Finance was among the top gainers in the BSE 500 index; the stock witnessed buying on heavy volumes. Nearly 30 lakh shares of L&T Finance had changed hands on the BSE by 10.15 a.m. as compared to a two-week average of 6.66 lakh shares, according to data from the Bombay Stock Exchange.
According to the report, Warburg Pincus and L&T Finance have agreed on a deal, and negotiations are currently on about the price. L&T, the parent company of L&T Finance has offered a price of Rs 83 per share, the report said.
As of 10.25 a.m., L&T Finance traded 8.65 per cent higher at Rs 72.20 on the BSE. The stock outperformed the broader Sensex, which traded 0.25 per cent higher at Rs 28,280.
L&T Finance was among the top gainers in the BSE 500 index; the stock witnessed buying on heavy volumes. Nearly 30 lakh shares of L&T Finance had changed hands on the BSE by 10.15 a.m. as compared to a two-week average of 6.66 lakh shares, according to data from the Bombay Stock Exchange.
According to the report, Warburg Pincus and L&T Finance have agreed on a deal, and negotiations are currently on about the price. L&T, the parent company of L&T Finance has offered a price of Rs 83 per share, the report said.
As of 10.25 a.m., L&T Finance traded 8.65 per cent higher at Rs 72.20 on the BSE. The stock outperformed the broader Sensex, which traded 0.25 per cent higher at Rs 28,280.
