L&T Technology Services dips 5% on plans to buy SWC biz from parent L&T

LTTS said that it has agreed to acquire the Smart World & Communications business (SWC) of its parent company Larsen & Toubro (L&T) by way of slump sale for Rs 800 crore.

Shares of L&T Technologies Services (LTTS) dipped 5.5 per cent to Rs 3,441 on the BSE in Friday’s intra-day trade after the company informed the stock exchanges that it agreed to acquire the Smart World & Communications business (SWC) of its parent company Larsen & Toubro (L&T) by way of slump sale for a consideration of Rs 800 crore.

At 09:30 AM; the stock traded 5 per cent lower at Rs 3,459.80, as compared to 0.30 per cent decline in the S&P BSE Sensex. It quoted at its lowest level since October 2022. LTTS had hit a 52-week low