Larsen & Toubro Ltd.

Larsen and Toubro’s (L&T) Chairman A M Naik has offloaded 5.67 lakh shares in the company worth about Rs 71.99 crore in last 20 days. Naik has offloaded 0.058%, out of 0.266% he had in the company, in as many as 6 transactions since March 10. Post transactions, he now holds 0.205% stake or 19,00,000 shares in the company.

Moreover, two other top officials, CEO K Venkataramanan and whole time director Shailendra N Roy, have also offloaded part of their shares in the same period. Company CEO K Venkataramanan had sold 10,000 shares, out of 8,52,873 shares he holds in L&T, for about Rs 1.26 crore on March 14. He now has 8,42,873 shares of the company, amounting to 0.091% stake.

Besides, Shailendra N Roy, a whole time director of the company, has offloaded his 3,500 shares worth about Rs 44.70 lakh in three tranches on March 19, 26 and 27. He now holds 0.0058% stake or 54,050 shares of the company.

L&T is one such company that does not have a promoter. Its largest shareholder of L&T is Life Insurance Corporation of India, which held 17.06% stake as on December, 2013.