LT share price slipped over 3 per cent intraday on Friday as the Indian government is expected to sell around 3 per cent through OFS - offer for sale route as part of the SUUTI - Specified Undertaking of the United Trust of India sale. The SUUTI was formed back in the year 2003 as an extension of the UTI. It comprises 51 companies - 8 unlisted and the rest 43 listed. Through SUUTI, the Indian government holds minority stake in these firms and is planning to divest its shareholding.
Through SUUTI the government holds 11.53 per cent stake in Axis Bank, 11.17 per cent in ITC and 8.16 per cent in LT. For the purpose of divestment, the Indian government had segregated the firms in the SUUTI portfolio in to three groups.
These blue chip firms were placed in Group A and are up for divestment first. The floor price for the LT block deal has been set at Rs.1415.66 per share which is slightly discounted to 3rd November's closing price.
LT Share Price History:
Meanwhile, LT share price closed trading 1.28 per cent lower at Rs.1425.70 on the National Stock Exchange (NSE) today. The scrip opened at Rs. 1,426.90 from a previous closing of Rs. 1,444.20. So far, over 1 crore shares have traded on the NSE counter having a traded value of Rs. 1,67,733.32 lacs. The lower price band of the stock stands at 1,299.80 while the upper price band of the scrip stands at 1,588.60.
LT is analyzed by the Dynamic Levels Researchers and stock analysts as the top 500 performing scrips for this quarter amongst 1700 stocks which are listed on the National Stock Exchange (NSE).
For more details on the scrip and also financials and fundamentals of the company, please visit LT share price history. Here you shall also come across the resistance and support levels of the LT scrip.
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