MUMBAI (NewsRise) -- L&T Technology Services, a unit of India's industrial conglomerate Larsen & Toubro, made a lackluster debut on the stock exchanges as investors remain wary of the stock's valuation and the software industry's prospects amid slowing growth.
L&T Technology, an engineering services and research and development company, opened trading with a 4.6% gain from the issue price at 900 rupees a share ($13.5), before erasing gains to close down 3.9%. The stock performance contrasts the smart debut of some recent issues in India's initial public offering market that is witnessing a boom.
