Larsen & Toubro Ltd News

Defence ministry finds L&T bid non-compliant in Rs 70k cr submarine deal

The Defence Ministry has found the Indian firm Larsen and Toubro (L & T) bid non-compliant in the Rs 70,000 crore tender to acquire six submarines.The Indian Navy is looking to buy six advanced submarines with the ability to stay underwater for three weeks under Project 75 India.The proposal of the L & T in partnership with Spanish Navantia has been rejected by the Ministry for not being compliant with Indian Navy requirements, defence sources told ANI.The L & T and its partner had showcased the functioning of its critical Air Independent Propulsion system in Spain to the Indian Navy team there on shore but the Indian Navy demanded a sea-proven system in its requirements in the tender document.The latest development means that the state-owned Mazagaon Dockyards Limited along with its partner ThyssenKrupp Marine Systems of Germany would be the only vendor left in the race for making the six submarines.Vendors involved in the programme have been making representations to the

India Inc opts for long-term borrowing as short-term rate spikes

L&T, Grasim, UltraTech raise funds via 10-year bonds

L&T launches second multi-purpose vessel for Navy from Kattupalli shipyard

Infrastructure major Larsen & Toubro (L&T) has launched the second multi-purpose vessel for the Indian Navy from its Kattupalli Shipyard near Chennai. The launch of the vessel, christened INS Utkarsh, comes within three months of the launch of the first MPV INS Samarthak. The first vessel is being readied for undergoing tests and trials prior to its delivery to the Indian Navy, L&T said in a statement on Tuesday. The multi-purpose vessels (MPVs) are highly specialised and play multiple roles, including serving as trial platforms, for the development of next generation weapons and sensors. They will perform maritime surveillance, humanitarian assistance, combat sea pollution, besides taking up launch and recovery of surface and aerial assets, etc. The design engineering of the MPVs has been undertaken at L&T's in-house warship design centre at Chennai and the construction is accomplished at the company's Katupalli Shipyard. L&T is also constructing three Cadet ...

'Genuinely cares for his team': L&T HR on chairman's 90-hr workweek remark

L&T HR defends chairman SN Subrahmanyan's 90-hour workweek comments, stating they were 'misinterpreted' and 'taken out of context,' amid widespread backlash

L&T chairman asks employees to work 90 hours a week, company backs him

Subrahmanyan's '90-hour workweek' formula is one step ahead of Infosys founder Narayan Murthy's suggestion of working 70-hours a week

L&T eyes 20% growth in construction, mining machinery biz in FY26

Infrastructure major Larsen & Toubro (L&T) expects its construction and mining machinery business to grow at least 20 per cent in the next fiscal year with the company planning to double sales in the next five years. In an interview to PTI, Arvind K Garg, Senior Vice President and head of L&T's Construction and Mining Machinery business, said, "If you ask me what the plan for the coming fiscal year is, definitely our construction and mining machinery business will grow at least 20 per cent. And, "as we have to meet the target of growing or doubling our sales in the next five years, along with profitability, we will have to invest in our service capabilities. This financial year, we also launched a mini excavator, the Komatsu PC35, which will help fuel growth," Garg said. Larsen & Toubro and Komatsu Ltd entered into a joint venture in 1998 to manufacture construction equipment and hydraulic components in India. From 1998 to 2013, the joint venture company was ...

L&T share price rises 2% after bagging major order from Ministry of Defence

In 2017, L&T had won the contract for the first batch of 100 K9 Vajra-T platforms through global competitive bidding and after successful field evaluation

Larsen & Toubro hits all-time high; rallies 6% in 1 week on strong outlook

The stock hit a new high of Rs 3,948, surpassing its previous high of Rs 3,919.90 touched on June 3 and rallied 13 per cent in 12 trading days

Indian stock market could be bottoming out after crash, says Chris Wood

As an investment strategy, Wood has taken exposure in the US-listed online travel company MakeMyTrip in the India long-only portfolio with a 4 per cent weighting

L&T stock gains 2% on healthy profitability outlook

Ind-Ra expects the consolidated order book of L&T to grow at a sustainable pace over FY25-FY26 due to order inflows from both domestic and international segments.

BJP Maha win, global cues. Reasons Sensex rallied 1,300pts intraday Monday

The NSE Nifty topped the 24,300-level, and was up 350 points following BJP-led Mahayuti alliance landslide victory in Maharashtra elections. Index heavyweights SBI and RIL were the top gainers so far.

L&T bags over Rs 15,000 crore NTPC order for thermal power plants

This is one of the biggest order wins for the company in the domestic market

L&T to acquire 21% stake in E2E Networks in two-part Rs 1,406 crore deal

The strategic investment helps expand the company's Cloud service offering as part of the data centre business

Ashish Kacholia portfolio stock up 1645% in 15 months; L&T to buy 21% stake

L&T in an exchange filing today informed that the company has entered into an Investment Agreement on November 5, 2024 for acquisition of up to 21 per cent stake in E2E Networks.

L&T eyes aerospace expansion to ride India's $44 billion market push

BENGALURU (Reuters) - Larsen & Toubro Ltd (L&T), India's largest private-sector defense manufacturer by revenue, is looking to ramp up its aerospace division to strengthen its foothold in the country's burgeoning private space sector, a senior executive said on Thursday.

L&T share price jumps 6% as Q2 results beat street estimates; details here

The rise in L&T share price came after the company reported a healthy set of September quarter numbers on October 30, 2024

Stocks to Watch, Oct 31: Biocon, L&T, Tata Power, RVNL, Zydus Wellness

Stocks to Watch, October 31, 2024: L&T's revenue up 20.63 per cent at Rs 61,554 crore versus Rs 51,024 crore. Ebitda up 12.94 per cent at Rs 6,362 crore versus Rs 5,633 crore

L&T Q2 FY25 results: Net profit increases 5.4% to Rs 3,395 crore

Maintains guidance on order inflow and revenue generation for full-year

L&T Q2 results: Profit rises 5% to Rs 3,395 crore on higher income

Infrastructure major Larsen and Toubro (L&T) on Wednesday posted a 5 per cent rise in consolidated profit after tax to Rs 3,395 crore in the September 2024 quarter on account of higher income. The company's consolidated profit after tax stood at Rs 3,223 crore in the year-ago period, L&T said in a regulatory filing. "The company for the quarter ended September 30, 2024, posted a consolidated Profit After Tax (PAT) of Rs 3,395 crore, registering a growth of five per cent compared to the corresponding quarter of the previous year," the filing said. During the period under review, its consolidated income rose to Rs 62,655.85 crore from Rs 52,157.02 crore in the year-ago period. Its expenses in the September quarter increased to Rs 57,100.76 crore against Rs 47,165.95 crore a year ago. "We have delivered yet another quarter of strong financial performance despite the continuing global macro economic volatility. The projects and manufacturing businesses of the company continue to ..

L&T wins 'major' orders in West Asia, Africa to expand high-voltage grid

The orders are estimated to be valued between Rs 5,000 crore and Rs 10,000 crore