Larsen & Toubro Infotech declined 2.43% to Rs 1630 after the US Department of Homeland Security visited the company's Edison office in New Jersey on 4 December 2019.
The company said it was fully cooperating with the authorities and had no further information to provide. The announcement was made during trading hours today, 5 December 2019.
The United States Department of Homeland Security is a cabinet department of the U.S. federal government with responsibilities in public security, roughly comparable to the interior or home ministries of other countries.
On the BSE, 69,000 shares were traded in the counter so far which is almost 10 times its 2-week daily average volumes of 7119 shares.
The stock traded above its 50 days simple moving average placed at 1608.38 but below its 200 days simple moving average placed at 1658.29.
On a consolidated basis, L&T Infotech's net profit rose 1.20% to Rs 360.10 crore on 3.45% rise in net sales to Rs 2,570.70 crore in Q2 September 2019 compared with Q1 June 2019. On year-on-year (YoY) basis, consolidated net profit fell 10% while net sales rose 10.3% in Q2 September 2019 over Q2 September 2018.
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L&T Infotech is engaged in computer programming, consultancy and related activities.
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