Indian markets slumped by huge profit booking in Banking stocks
Larsen & Tourbo Infotech slumped by 6.11% nearly 43 points to Rs. 666.60 from its previous issued price of Rs. 710. After IT majors such as Infosys, Wipro reported dull June quarter performance, investors got cautious on the IT stocks, which led to dumping of L&T Infotech shares in grey market activity. The grey market premium for L&T Infotech fell substantially below Rs 100 from last week's quoted price of Rs 120. On BSE index, the company was listed at a market price of Rs. 651.