Mindtree climbs on CCD founder increasing stake in company

VG Shiddhartha, the promoter of Cafe Coffee Day who also sits on the board of Mindtree has increased his stake to the tune of 3.84% in the company. Shiddhartha’s stake in the Bangalore-based IT company has now jumped to 21.6%.

Walden Software, the investment firm, sold a total of 19,64,205 MindTree shares for around Rs 120 crore. Shiddhartha hiked his stake via open market transaction for Rs 95.4 crore, which included purchase of 1,564,000 shares at Rs 610 per share and remaining 400,000 shares were bought by financial services firm Gagandeep Credit Capital for Rs 24.4 crore at same price.

Mindtree is currently trading at Rs. 619.95, up by 15.00 points or 2.48% from its previous closing of Rs. 604.95 on the BSE.

The scrip opened at Rs. 610.80 and has touched a high and low of Rs. 627.80 and Rs. 610.80 respectively. So far 14356 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 640.50 on 06-Jun-2012 and a 52 week low of Rs. 321.20 on 26-Aug-2011.

Last one week high and low of the scrip stood at Rs. 639.00 and Rs. 595.40 respectively. The current market cap of the company is Rs. 2523.44 crore.

The promoters holding in the company stood at 20.19% while Institutions and Non-Institutions held 29.40% and 50.41% respectively.