Shares of IT services firm Mindtree were down 1.7 per cent, their lowest since February 27.
The Bengaluru-based company on Wednesday said conglomerate Larsen & Toubro has bought a 60.06 per cent stake in the IT services firm
The development, which categorizes L&T as promoter in Mindtree, comes months after the IT service firm had rejected a hostile takeover bid from L&T
L&T shares were up as much as 0.8 per cent, highest since May 29.
The country's Nifty IT index was up 0.4 per cent, with Infosys Ltd and Tata Consultancy Services Ltd inching up as much as 0.7 per cent and 0.6 per cent, respectively.
Mindtree shares were down 9.86 per cent in 12 months.