Page 9 - L&t

L&T's transportation infrastructure business bags 'significant' contracts

Larsen & Toubro (L&T) on Tuesday said its transportation infrastructure business has secured various orders from prestigious clients. The company did not provide the value of the contracts, but said the orders fall under the "significant" category, which ranges between Rs 1,000 crore and Rs 2,500 crore according to the classification of contracts. The business has secured an order from the Tamil Nadu Road Infrastructure Development Corporation to construct the Chennai Peripheral Ring Road EPC-02 package of section-II in the engineering, procurement and construction (EPC) mode. The scope of work broadly includes constructing a six-lane greenfield highway of 12.80 kms with flexible pavement, two-lane service roads and paved shoulders on both sides of the carriageway, at-grade intersections, major/minor bridges, vehicular/light vehicular/ small vehicular underpasses, and culverts followed by maintenance for seven years, L&T said in a statement. The railways business unit ...

L&T appoints former Citibank India head Pramit Jhaveri as director

Larsen & Toubro Limited (L&T) has appointed former Chief Executive Officer of Citibank India Pramit Jhaveri as independent director. The board also approved the appointment of Jhaveri as an independent director of the company for a period of five years with effect from April 1, 2022, L&T said in a statement. He is also senior advisor to Premji Invest and PJT Partners and an independent director on the board of Bajaj Finance Limited. Prior to his current activities, he was Vice Chairman - Banking, Asia Pacific Citi. He served as Chief Executive Officer of Citibank India from 2010 to 2019.

Flight control system integration facility for DRDO built in 45 days: L&T

Larsen & Toubro (L&T) on Monday said that it has constructed a seven-storey state-of-the-art flight control system integration facility for the Defence Research and Development Organization in just 45 days. The facility was inaugurated on March 17 by defence minister Rajnath Singh. "The buildings business of Larsen & Toubro has set a record by constructing the 7-storey, state-of-the-art Flight Control System (FCS) integration facility for the Defence Research and Development Organization (DRDO) in just 45 days using Integrated Hybrid Modular Construction Technology (IHMCT)," the company said in a statement. This facility shows that India can build anything in a short span of time, DRDO Chairman G Satheesh Reddy said. The project commenced on February 1, 2022, and the building has been constructed on 1,30,000 sq feet.

Adani, L&T among firms keen to build satellite launchers: Govt

The government Thursday said Adani Enterprises Limited and L&T are part of two consortia led by State-run enterprises that have evinced interest in building the Polar Satellite Launch Vehicle (PSLV), the ISRO's warhorse rocket to put satellites in orbit. In a bid to encourage private sector participation in the space sector, New Space India Limited (NSIL), a company under the Department of Space, had invited proposals from the Indian industry to build five PSLVs. Minister of State in the PMO Jitendra Singh said two consortia, one comprising Hindustan Aeronautics Limited and Larsen & Toubro, and another involving Bharat Electronics Limited (BEL), Adani Enterprises Limited (AEL) and Bharat Earth Movers Limited (BEML), have submitted techno-commercial proposals for building PSLV. State-run Bharat Heavy Electrical Limited too has submitted a techno-commercial proposal for end-to-end realisation of PSLV, he told the Rajya Sabha in response to a question by NCP member Vandana ...

Sensex rebounds 1,059 pts from day's low, ends 697 pts up; RIL leaps 2.5%

CLOSING BELL: Tech M, Tata Motors, BPCL, ITC, JSW Steel, PowerGrid, Bajaj Auto, Infosys, TCS, Bajaj Finserv, Bharti Airtel, Wipro and IndusInd Bank were the other gainers

Stocks to Watch: Wipro, L&T, Sun Pharma, Zomato, Deepak Nitrite, PNB, NHPC

Wipro will be in focus as the company's board will meet on March 25 to consider an interim dividend.

CCI approves acquisition of L&T AMC by HSBC Asset Management

Fair trade regulator CCI has approved the acquisition of L&T Investment Management Ltd by HSBC Asset Management (India) Pvt Ltd. "Commission approves acquisition of 100 per cent share capital of L&T Investment Management Ltd (L&T AMC) by HSBC Asset Management (India) Private Limited (HSBC AMC)," the regulator said in a tweet. The transaction involves the acquisition by HSBC AMC and its nominees of 100 per cent share capital of L&T AMC from L&T Finance Holdings Ltd and its nominees, a notice filed with the regulator said. Simultaneously, there will be a change in the sponsorship, trusteeship, management and administration of the L&T Mutual Fund schemes managed by L&T AMC. The L&T MF schemes will be managed and operated by HSBC AMC, and HSBC Trustee will be appointed as the trustee of the L&T Mutual fund. "Pursuant to the proposed transaction, the L&T MF will comprise part of and be considered to form an integral part of the HSBC Mutual Fund ...

L&T launches B2B e-commerce platform L&T-SuFin to expand service biz

The platform is targeted at MSMEs to enable them to source their industrial supplies pan-India, digitally

India's Green Hydrogen Policy to benefit RIL, Tata Power the most: Analysts

RIL has already spent $1.4 billion to acquire technologies across the solar battery and hydrogen ecosystems

Big firms ask Sebi to reverse 'tedious, complicated' related-party rule

The regulator tightened the norms after alleged irregularities were observed in the case of some companies including DHFL and Fortis Healthcare.

Larsen & Toubro bags significant offshore projects from overseas client

Larsen & Toubro (L&T) on Thursday said its hydrocarbon business has bagged two 'significant' offshore projects from an overseas client. As per the company, a significant order is valued at Rs 1,000-2,500 crore. The scope of work comprises engineering, procurement, construction, installation and commissioning for the expansion of a marine terminal and replacement of electrical switchgear and protection equipment at existing facilities. "The hydrocarbon business of Larsen & Toubro has secured two offshore projects from a prestigious overseas client," the company said in a statement. L&T is currently executing several domestic and international offshore projects. The company is also committed to building its regional presence in geographies that it operates in by growing local skills and talent, improving procurement from local vendors, engaging commercially with local contractors on the foundation of a sustainable workload. The hydrocarbon business organised under ...

L&T: Order execution, new initiatives key to long-term growth, say analysts

Long-awaited growth pick-up along with muted orders may weigh on Larsen and Toubro's stock in the near-term

Sensex falls 884 pts from day's high, ends 77 pts down; Nifty holds 17,100

For the week, the Sensex and the Nifty indices are down 3% each

Adani Ent, Tata Comm, SBI Life, L&T and 24 other BSE500 stocks at new highs

Infosys, Tata Consultancy Services (TCS) and Tanla Platforms from the IT sector hit their respective new highs today.

From L&T to Reliance Industries, giants hitch a ride on the green road

Conventional conglomerates are tying up with new-age companies in the sustainability space

HSBC Mutual Fund jumps 11 spots on assets tally after L&T AMC buy

The Rs 3,188-crore purchase validates 'our view on India', says fund house

L&T gains 7% thus far in December; beats market on steady order inflow

Order inflow is expected to be good in H2FY22 given the expected high activity in tendering in and awarding

L&T Construction bags significant order from reputed developer

Larsen & Toubro (L&T) on Wednesday said its construction arm has bagged a significant order for its buildings and factories business from a reputed developer. The scope of work includes design and construction of entire civil structure, including waterproofing, masonry, plastering and electrical conduiting, L&T said in a statement. The residential business of buildings and factories has secured this order to construct one of the largest residential townships in Bengaluru. "The project involves construction of 6,768 apartments spread across 39 towers... Additionally, the development entails 149 villas along with club houses, swimming pools and other amenity structures. The total built-up area will be 13.43 million sq ft," the statement said. The project is scheduled to be completed in 42 months, it added. Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide.

L&T, Kemroc ink pact for distribution of cutting-edge products in India

Larsen & Toubro (L&T) on Friday said it has entered into a pact with Kemroc, a global manufacturer of attachments for excavators and backhoe loaders, to distribute the latter's cutting-edge products in India. The agreement covers Kemroc-developed special attachments, including its patented EK series of chain cutters. These chain cutters are a game-changer in rock trenching and are well accepted across the world, including India. "Larsen & Toubro...and Kemroc, a global manufacturer of attachments for excavators and backhoe loaders, have entered into a distribution agreement that will facilitate Kemroc products to be distributed and promoted in the Indian market by L&T," the company said in a statement. Kemroc was originally founded in 2012 in Germany by Klaus Ertmer, who in 2017 introduced a new series of efficient chain cutters, drum cutters, cutter wheels, pile cutters, trenchers, patch planners and drilling augurs with applications covering trench excavation, among ..

L&T looks to tap green business, more infra projects in West Asia

Over 30% of L&T's power order book is from green energy. It has also electrified 10% of Indian villages over the last decade and modernised systems in several towns