UltraTech Cement in a disclosure to BSE on Thursday, Jun 11 said, L&T has sold 1,43,03,294 shares, representing 11.49 per cent stake in the company. The UltraTech stocks reacted in a negative manner to the development and plunged over 5 pc in the morning trade in BSE.
Besides, shares of L&T remained volatile in the early trade. After opening firm on the bourses, it slipped 2.79 per cent to witness a low of Rs 1,588.15 on the BSE. Similar trend was witnessed in National Stock Exchange too.