Page 14 - L&t

Larsen & Toubro Tech Services Q2 net profit up 39.1% to Rs 230 cr

Larsen & Toubro Technology Services (LTTS) on Tuesday posted a 39.1 per cent rise in consolidated net profit to Rs 230 crore for the September 2021 quarter and has raised its dollar revenue growth guidance to 19-20 per cent. The company had registered a net profit of Rs 165.5 crore in the year-ago period, it said in a regulatory filing. Its revenue grew 22.4 per cent to Rs 1,607.7 crore in the quarter under review from Rs 1,313.8 crore a year ago, it added. The company has announced a special dividend of Rs 10 per share to mark the five-year anniversary of LTTS' IPO and the record date has been set as October 27, 2021. LTTS, which has seen attrition spike to 16.5 per cent in the second quarter of the financial year 2021-22, plan to hire 2,000 freshers in the next six months. On a sequential basis, the net profit was higher by 6.4 per cent from Rs 216.2 crore, while revenue increased 5.9 per cent from Rs 1,518.4 crore in the June 2021 quarter. During the quarter, LTTS won 5 deals

L&T Group shares in demand; L&T hits record high, LTI soars 16%

L&T, on Monday, emerged as the lowest bidder for the construction and maintenance of the first three buildings of the Common Central Secretariat under the Central Vista redevelopment project

L&T lowest bidder for construction of Common Central Secretariat

Infrastructure firm Larsen & Toubro Limited on Monday emerged as the lowest bidder for the construction and maintenance of the first three buildings of the Common Central Secretariat under the Central Vista redevelopment project. According to the Central Public Works Department's bid documents, Larsen & Toubro Limited quoted around Rs 3,141 crore, which is 3.47 per cent less than the estimated cost. The firm submitted a total bid amount of Rs 31,41,99,87,657. NCC Ltd quoted the second lowest bid amount of around Rs 3,318 crore for the project, which was 1.94 per cent more than the estimated cost. The bid documents show that Tata Projects Limited quoted around Rs 3,546 crore, which is 8.96 per cent more than the estimated cost. These new buildings will come up on the plot where the Indira Gandhi National Centre for the Arts is located. An official said that the the Board of Central Public Works Department (CPWD), which has been executing the Modi government's ambitious Central .

Vodafone Idea teams up with L&T for trials of 5G-based smart city solutions

Telecom operator Vodafone Idea (VIL) and smart world and communication business of engineering and construction conglomerate Larsen and Toubro (L&T) have joined hands for a pilot project to test 5G-based smart city solutions, according to a statement. This is part of the ongoing 5G trials on government-allocated spectrum. Announcing the collaboration in a joint statement, the companies said the pilot project would be set up in Pune on government-allocated 5G spectrum to visualise and analyse smart city applications. The companies will collaborate to test and validate 5G use cases built on Internet of Things (IoT), Video AI (Artificial Intelligence) technologies leveraging L&T's Smart City platform - fusion, addressing the challenges of urbanisation, safety and security and offering smart solutions to the citizens. Vodafone Idea's Chief Enterprise Business Officer, Abhijit Kishore said, telecom solutions are the backbone of building smart and sustainable cities. "The advent of .

L&T in talks to merge its thermal power business with Sembcorp India

The share-swap deal will help India's largest engineering conglomerate pare debt

Boost to green corridors: Rs 41,369-cr transmission projects on offer soon

With these, RE connectivity and private participation will get a fillip

Stocks to watch: Axis Bank, L&T, NHPC, Jindal Steel, Bank of Baroda

BSE has announced price band revision for seven companies including Exxaro Tiles and Kemistar Corporation effective today

Building blocks in place for L&T stock to outperform

Improving balance sheet, likely rise in order flows and attractive valuations are among key positives

Subsidiaries drive L&T's market capitalisation; stock gains 2.8%

The m-cap of four listed arms is now equivalent to 82 per cent of the parent company's valuation

Nifty in uncharted territory; keep booking timely profits: Sameet Chavan

We advise continuing with one step at a time approach and keep booking timely profits in the rally

L&T to sell 99 MW hydropower project in Uttarakhand to ReNew for Rs 985 cr

ReNew also announced signing of agreements for 260 MW/330MWp solar projects in Telangana. The combined enterprise value of the acquisitions is around Rs 2,850 crore ($384 mn)

L&T gets shareholders' nod to raise up to Rs 4,500 crore through bonds

Larsen and Tourbo (L&T) has received shareholders' nod to raise up to Rs 4,500 crore through issuance of convertible bonds, according to a regulatory filing. The shareholders' approval was given at the company's annual general meeting (AGM) held on Thursday, L&T said in the BSE filing on Friday. A special resolution for raising the funds was approved with requisite majority. "The special resolution as set out in Item No. 13 of the Notice of the AGM...has been passed with requisite majority," the filing said. Item No. 13 of the AGM notice read: "Raise funds through issue of convertible bonds and/or equity shares through depository receipts and including by way of qualified institution placement to qualified institutional buyers for an amount not exceeding Rs 4,500 crore or USD 600 million, if the value is higher.

Focus on capital formation is the best way to create employment: L&T CEO

In a Q&A, S N Subrahmanyan says he is confident of margins through overhead recovery despite high input costs

Sensex drops 274 pts, Nifty ends below 15,750; DRL sinks 10%, Axis Bank 3%

In the broader markets, mid-cap stocks faced a severe blow with the BSE MidCap index erasing 0.67 per cent.

L&T Q1 consolidated net surges four-fold at Rs 1,174 cr on higher revenue

The company's topline in the period under review stood at Rs 29,334.73 crore, up 38% from the same period last year

Top headlines: L&T Q1 net profit soars; Tata Motors Q1 net loss narrows

Business Standard brings you the top stories of this evening

L&T Q1 Results: Consolidated net profit soars 287% YoY to Rs 1,174 cr

The consolidated order book of the group was at Rs 3.23 trillion as on June 30, 2021, with international orders at 20% of the total order book

Sensex falls 123 pts as investors book profit in RIL, banks, auto stocks

The broader markets, however, outperformed the frontline indices with the BSE MidCap and SmallCap indices adding 0.06 per cent and 0.34 per cent, respectively.

L&T Q1 Preview: Net profit may slide up to 60% QoQ, say analysts

Here's what leading brokerages expect from the infra major's Q1 results

Here is a Bull Spread strategy on L&T by HDFC Securities

The stock price has broken out on the daily chart with higher volumes where it closed at all-time high levels