The Aditya Birla group has decided not to buy the Unit Trust of India's 10.71 per cent stake in engineering and construction major Larsen & Toubro (L&T). UTI has been looking at divesting its stake in L&T, in which Grasim, the Birla company, currently holds 13 per cent.
AV Birla group chairman Kumar Mangalam Birla told Business Standard:
