Page 3 - Larsen & Tourbo L&t

L&T gains 3%; hits new high as board to mull buyback, special dividend

The civil construction major announced its board will meet on July 25 to consider share buyback and special dividend.

L&T and DRDO sign contract to make AIP modules for Indian Navy submarines

Larsen & Toubro said the energy modules will be integrated into the AIP plug that will be retrofitted into the Kalvari submarine

Axis Bank, L&T, Thermax: Chris Wood rejigs India equity portfolio

Chris Wood has added Axis Bank and increased holding in Larsen & Toubro in India long-only portfolio Asia ex-Japan, excludes ICICI Lombard General Insurance.

Larsen & Toubro gains nearly 3% as hydrocarbon business wins mega contract

The engineering and construction company, however, did not provide the exact value of the contract, but specified that as per its classification, a mega project is of over Rs 7,000 crore.

L&T Technology Services announces CoE in Mysore to offer solutions on AWS

L&T Technology Services (LTTS) on Thursday announced a new Centre of Excellence (CoE) in Mysore, Karnataka, that leverages the power of the cloud with Amazon Web Services (AWS). The CoE will allow L&T Technology Services to transition its suite of technologies focused on the future of mobility and reduce time-to-market for end customers. "By leveraging AWS infrastructure, LTTS will provide an opportunity to use AWS to support the automotive domain," according to a release. Backed by its engineering domain expertise in Electric, Autonomous, and Connected Vehicles (EACV), LTTS has been helping original equipment manufacturers (OEMs) to develop next-generation vehicles and aircraft that have tailored solutions focused on safety and security. "The new CoE will leverage LTTS' cross-disciplinary skillsets covering embedded, mechanical, and digital facets of engineering," the release added. LTTS has been actively working with global technology companies like AWS to bring digital ...

Defence Ministry signs contract with L&T for indigenous Modular Bridges

The contract for the procurement of Modular Bridges was signed with L and T on February 8, at an estimated cost of over Rs 2,585 crore

L&T, Siemens surge up to 5% as govt proposes 33% jump in capex outlay

Timken India, Praj Industries, AIA Engineering and ABB were among other individual stocks from the S&P BSE Capital Goods index, up 4 - 5 per cent each.

Larsen & Toubro falls 2% on profit booking post Q3 results

L&T reported a strong order book of Rs 3.72 trillion, suggesting good revenue visibility in coming years.

L&T Technology Services dips 5% on plans to buy SWC biz from parent L&T

LTTS said that it has agreed to acquire the Smart World & Communications business (SWC) of its parent company Larsen & Toubro (L&T) by way of slump sale for Rs 800 crore.

Larsen & Toubro commits Rs 11 cr to support over 100 schools in Tamil Nadu

Engineering and construction conglomerate, Larsen and Toubro has committed Rs 11 crore to support over 100 schools in Tamil Nadu under the government's 'Namma School' initiative, the company said on Tuesday. The funds are aimed at benefitting government schools in Chennai, Kancheepuram, Coimbatore, Salem, Namakkal, Tiruvallur, Sivaganga, Tirunelveli, Chengalpet and Vellore. To be utilised in the current financial year, the funds would help develop and build on a range of on-going activities including Science, Technology, Engineering and Mathematics education through its corporate social responsibility programme - Engineering Futures. Chief Minister M K Stalin formally rolled out the 'Namma School' initiative on December 19. "It is an honour to partner with the Tamil Nadu government to take these activities to fruition and we express our sincere thanks for the opportunity to help the children of government schools in the state and contribute significantly to build a better India," a

L&T Finance Holdings completes sale of L&T AMC for Rs 3,484 crore

L&T Finance Holdings on Friday completed the sale of L&T AMC to HSBC Asset Management, according to a regulatory filing. "...With respect to the proposed sale of 100 per cent of the paid-up share capital of L&T Investment Management Ltd, asset manager of L&T Mutual Fund, to HSBC Asset Management (India) Pvt Ltd, asset manager of HSBC Mutual Fund, ...the said sale transaction has been completed on November 25, 2022," the company said. L&T Investment Management Ltd (LTIML) is a wholly-owned subsidiary of L&T Finance Holdings. L&T Investment Management Ltd will receive an aggregate purchase consideration of INR (Indian currency) equivalent of USD 425 million, subject to adjustments as set out in the definitive documents as consideration for the transaction. The company has received Rs 3,484 crore (equivalent of USD 425 million) as consideration for the sale of LTIML from the purchaser; and also realised surplus cash balance of Rs 764 crore in LTIML, it said.

Stocks to Watch: DreamFolks, RIL, HAL, L&T, Adani, Tata Motors, REC, NTPC

Stocks to Watch on Tuesday: DreamFloks Services to debut on Tuesday; Reliance Industries acquires majority stake in SenseHawk for $32 mn; Delta Corp in F&O ban.

L&T Group aims Rs 2.7 trillion revenue by FY26: Chairman A M Naik

Infrastructure major Larsen and Toubro (L&T) Group is targeting Rs 2.7 lakh crore revenue by financial year 2025-26, its Chairman A M Naik said on Thursday. "We are targeting group revenues of Rs 2,70,000 crore...by FY26. The group recorded revenues of Rs 1,56,521 crore during FY 2021-22, registering a growth of 15 per cent," he said at the company's 77th Annual General Meeting (AGM). As of March 31, 2022, the company's order book was at Rs 3,57,595 crore. Currently, the Middle East constitutes 76 per cent of the international order book of Rs 95,227 crore. In 2021-22, profit after tax was Rs 8,572 crore, a year-on-year (y-o-y) growth of 23 per cent. Naik said the company has also launched 'Lakshya 2026' plan which includes exit from non-core businesses, developing innovative business offerings, scaling up digital and e-commerce businesses, focus on Environmental, Social, and Governance (ESG) and shareholder value creation. The Rs 2,70,000-crore revenue target is also a part of ..

L&T beats estimates as Q1 net profit surges 45% YoY to Rs 1,702 crore

But sequentially, it declines 53% amid inflationary pressure & Rs depreciation

L&T Q1FY23 results: How the company performed in the last four quarters

Larsen & Toubro has seen a steady rise in net profits over the previous four quarters

L&T Realty to develop three projects worth Rs 8,000 cr in Mumbai region

L&T Realty on Monday said it has signed agreements to jointly develop projects worth Rs 8,000 crore in Mumbai region as part of its expansion plan. L&T Realty is the real estate development arm of Larsen & Toubro. "The company has entered into a binding agreement to jointly develop projects in South Mumbai, Western Suburbs and Thane worth Rs 8,000 crore, with development potential of 4.4 million square feet," L&T Realty said in a statement. The company did not disclose the name of companies with whom it has signed agreements. L&T Realty said this is a part of the company's larger plan to strengthen its footprint in major metros by adding around 5 million square feet per year over the next five years. Shrikant Joshi, MD & CEO, L&T Realty said,We are committed to expanding our reach and continue looking into new markets." The South Mumbai project will be developed over a land parcel of 5 acres. This residential complex will have 50-storey twin towers with ...

RBI rate hike may see rate sensitive stocks bottom out. Time to buy?

Shares of banks and NBFCs seem to be better placed on the charts, while that of automobile, realty and others need to sustain above the crucial levels.

NGT junks pleas by Afcons Infra, L&T to recall Rs 2 cr green violation fine

The National Green Tribunal(NGT) has dismissed applications filed by Afcons Infrastructure Limited and Larsen & Toubro Limited seeking recall of its earlier order requiring them to pay environmental compensation of Rs 1 crore each.

NGT refuses to recall order directing Afcons and L&T to pay compensation

The National Green Tribunal has refused to recall its order directing Afcons Infrastructure Limited and Larsen & Toubro Limited to pay compensation of Rs 1 crore each for unscientific muck dumping in Arzi nallah at the Pakal Dul Hydroelectric Project in Kishtwar district of Jammu and Kashmir. A bench headed by NGT chairperson Justice A K Goel said once the applicants caused damage and violated environmental norms, they cannot escape liability. "Subsequent clearance of waste cannot be a ground for waiving the compensation for damage already caused and violation already committed. Even though for such violation, on 'polluter pays' principle, deterrent compensation is liable to be paid having regard to the financial capacity of the polluter, the tribunal has adopted an extremely conservative approach of requiring compensation of Rs 1 crore each only. "The application now filed is utterly without any merit. We are inclined to award heavy costs for such an uncalled-for application but .

Zetwerk bags Rs 126 crore order from L&T for bullet train project

Contract manufacturing startup Zetwerk Manufacturing Businesses has bagged an order worth Rs 126.55 crore from L&T for the Mumbai-Ahmedabad (MAHSR) bullet train project, the company said on Thursday. The startup will supply 10,000 metric tonne (MT) fabricated girders to support the load-bearing capacity of the steel bridges that Larsen & Toubro is fabricating for laying the bullet train rail corridor. "Zetwerk Manufacturing Businesses has been awarded a Letter of Intent (LoI) for an order worth Rs 126.55 crore by L&T Ltd for the Mumbai-Ahmedabad (MAHSR) Bullet Train project," the start-up said in a statement. As per the LoI, the MAHSR Bullet Train project is being executed by the National High-Speed Rail Corporation Ltd. "Zetwerk is proud to associate with the Bullet Train Project and will strive to deliver its commitment on time in full. India is on the cusp of a major manufacturing revolution and we are honoured to be able to play an active role in bolstering these ...