Which conglomerate on 26 June 2019 acquired a controlling stake in IT services company Mindtree?
A. TCS
B. Infosys
C. Reliance
D. L&T
Answer:D
Which conglomerate on 26 June 2019 acquired a controlling stake in IT services company Mindtree?
A. TCS B. Infosys C. Reliance D. L&T
Explanation: Engineering conglomerate Larsen and Toubro (L&T) stake in Bengaluru-based IT services company Mindtree crossed 51% mark on 26 June 2019. With this the group marked the first successful hostile takeover in Indian IT sphere. It is worth mentioning that L&T had first acquired 20.32% stake in Mindtree held by Café Coffee Day (CCD) founder V.G. Siddhartha and two of his firms in March 2019. Since then the group has continuously increased its stake in Mindtree. By 27 June L&T’s stake in Mindtree rose over 60%.