India's E2E Networks hits record high on L&T's stake purchase

E2E Networks

05/11/2024 05:00

** Cloud computing co E2E Networks  EENE.NS  rises as much
as 5% to a record high of 4,977.50 rupees
    ** Larsen and Toubro  LART.NS  enters into agreement with
EENE to buy 21% stake
    ** Investment via preferential allotment for 15% stake for
10.79 bln rupees ($128 mln) and secondary acquisition of 6%
stake from the founder for 3.28 bln rupees
    ** More than 60,000 shares traded vs the 30-day avg of
34,974
    ** EENE jumps 656% YTD

($1 = 84.1180 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))