Page 11 - L&t

Larsen & Toubro sells business division to subsidiary LTTS for Rs 800 crore

The business transfer to L&T Technology Services will be on slump sale basis

Top Headlines: Google challenges CCI's ruling, govt to fully exit IDBI Bank

Business Standard brings you the top headlines at this hour

Freebie culture hurting economic growth, must end: L&T chairman A M Naik

Developing infrastructure should be the govt's top priority, says L&T chairman

Financial, IT shares drag Sensex 453 pts, ends below 60K; Nifty near 17,850

Closing Bell: Nifty IT fell 2 per cent followed by 0.7-1 per cent cuts each in Bank, Financial, Metal, Realty and Pharma indices. FMCG and Consumer Durables outperformed with fractional gains

Stocks to Watch: RIL, Ambuja Cements, IDBI Bank, Voda Idea, VLS Finance

Stocks to watch today: Sebi has acceded to the central government's request to reclassify its shareholding in IDBI Bank after its disinvestment as "public holding"

L&T Realty Developers to sell its entire stake in Think Tower Developers

L&T Realty Developers Ltd, a subsidiary of L&T, has agreed to sell its complete stake in Think Tower Developers Pvt Ltd, the engineering and construction conglomerate said on Thursday. The agreement is expected to complete on January 30, which is subject to the completion of closing conditions. "L&T Realty Developers Ltd, a wholly owned subsidiary of Larsen & Toubro Ltd, has entered into an agreement to sell its entire stake of 99 per cent in Think Tower Developers Private Ltd, a subsidiary company (TTDPL), on January 5," Larsen and Toubro (L&T) said in a regulatory filing. TTDPL will cease to be a subsidiary company, the filing added. "The entire stake held by L&T Realty Developers Ltd in the company is being sold to Pratik Harshad Kalsariya, who does not belong to the promoter group," the company said.

Stocks to Watch: Zomato, IRCTC, Maruti Suzuki, RIL, Birlasoft, M&M Fin, ZEE

Stocks to watch today: Maruti Suzuki India recorded a 16.5 per cent YoY decline in production volume for passenger vehicles in December 2022

L&T gains 2% on 'significant' order wins for its water treatment business

The company did not disclose the exact value of the orders. The value of the project is between Rs 1,000 crore to Rs 2,500 crore, as per L&T

To ease debt, L&T looks to offload Nabha Power, pare Hyd Metro stake

The objective is to reduce the Rs 18,000-crore debt on the books of these firms, said D K Sen, whole-time director and senior executive vice-president (development projects), L&T

Edelweiss Alternatives to buy out L&T Infra Development for Rs 6,000 cr

Edelweiss Alternatives on Saturday entered into an agreement with Larsen & Toubro and Canadian Pension Plan Investment Board to pick up their 100 per cent stakes in L&T Infrastructure Development Projects at an enterprise value of Rs 6,000 crore. Edelweiss Alternatives -- an alternative ivestment fund management platform -- in a statement said that the transaction is being executed by a fund managed by Edelweiss Alternatives and it also involves absorbing the operating team. The portfolio of the target company comprises eight roads and one power transmission asset, spanning 4,900 lane kilometres and 960 circuit kilometres, respectively. Following this acquisition, the infrastructure platform will scale up to 26 assets with cumulative annual revenue of nearly Rs 2,700 crore. The platform will be a diverse mix of power transmission and substations, renewables and highway assets. Sreekumar Chatra, managing director of the infrastructure yield strategy fund, said these assets have

L&T, CPPIB divest stake in L&T Infra Projs to Edelweiss SPV for Rs 2,723 cr

Enterprise value pegged at Rs 6,000 crore; portfolio includes 8 roads and one power transmission asset; deal closure likely by end of FY23

Larsen & Toubro closes $107 million sustainability-linked loan with SMBC

Sustainability-linked loans aim to facilitate and support environmentally and socially sustainable economic activity and growth

HSBC Asset Management Company completes acquisition of L&T Mutual Fund

L&T Finance Holdings said it has received Rs 3,485 crore from HSBC AMC as sale proceeds

L&T gains 3% in two days, hits record high on strong order prospects

The inflow momentum looks set to continue with a strong Rs 6.3 trillion-prospective pipeline and better conversion ratio

Govt needs to share risks with private companies in projects: L&T CFO

The government needs to share risk with private companies it partners with "and not just talk about what can be done" in a project, Larsen & Toubro chief financial officer R Shankar Raman said on Wednesday. He also called out regulatory overreach and over regulation as one of the biggest risks when it comes to India, saying that such a posturing destabilises growth. The belief that private capital can court larger risk is "misplaced" and there has to be an "optimal risk share" between the government and the private partner in a project, Raman said. "partnership in its true sense means holding hands and not just leading the horse to the pond and watching the fun," Raman said, speaking at the annual SBI Conclave here. The bureaucracy and thought leaders in the government need to "evolve" to understand the risk aspect, "and not just talk about what can be done", Raman said, urging the government to play an enabling role. Asserting that he is "intimately" connected with projects and .

Equity MFs book gains in October winners amid Rs 6,300 cr net purchases

Coal India, HCL Tech and L&T were among the most-sold stocks by domestic funds in October even as they rallied between 10% and 16%

BSNL gets Centre's nod to sign Rs 26,821 crore 4G deal with TCS: Report

Tata Sons' unit Tejas Network will manufacture the equipment locally for BSNL

L&T may conclude divestment of its road assets by the end of FY23

Exit from Hyderabad Metro, Nabha Power may take 2-3 years, says CFO R Shankar Raman

L&T fined Rs 5 lakh for violating ban on construction work: Gopal Rai

The Delhi government on Tuesday imposed a fine of Rs 5 lakh on construction agency Larsen & Toubro Ltd for violating the ban on construction and demolition work imposed in view of worsening air quality in the city, Environment Minister Gopal Rai said on Tuesday. Officials said the minister noticed construction work at the BJP headquarters on Deen Dayal Upadhyay Marg while he was returning after inspecting a construction site of the Unique Identification Authority of India. "The workers said the work concerned the BJP's national headquarters. We are yet to confirm it. It is a complete violation of CAQM's orders. We have imposed a fine of Rs 5 lakh on the construction agency L&T," Rai told reporters. The Commission for Air Quality Management (CAQM)-- a statutory body formed in 2021 to tackle air pollution in Delhi-NCR -- had on Saturday directed authorities to impose a ban on construction and demolition activities in Delhi-NCR, except in essential projects, and other curbs ...

Stocks to Watch: Bharti Airtel, Tata Steel, Axis Bank, L&T, Zomato, Castrol

Stocks to Watch today: Bharti Airtel's (Airtel's) consolidated net profit jumped 89% year-on-year (YoY) to Rs 2,145 crore in the second quarter (Q2) of 2022-23, led by strong revenue growth