Larsen & Toubro gains on heavy volumes

A sign of Larsen and Toubro (L&T) is placed on a road divider in Mumbai
Larsen & Toubro (L&T) was up nearly 2% to Rs 1,781 on BSE in intra-day trade after nearly 2.5% of total equity of the construction & engineering major changed hands via multiple block deals.

Till 09:41 am; around 22.90 million equity shares representing 2.5% of total equity of L&T have changed hands on the BSE, the exchange data shows.

The name of the buyers and sellers were not ascertained immediately.

As of March 2017, Administrator of The Specified Undertaking of the Unit Trust of India (SUUTI) held 6.68% stake in L&T, the shareholding pattern data shows.

At 09:46 am; the stock was trading 1% higher at Rs 1,769 on BSE. L&T was the top gainer among S&P BSE Sensex, which down 0.24% at 31,224.