Page 18 - L&t

L&T consortium bags offshore jacket installation project from Saudi Aramco

Larsen & Toubro on Thursday said a consortium of its arm LTHE, and EMAS AMC PTE Ltd has been awarded a project by Saudi Aramco for offshore jackets. The project is for installing 28 offshore jackets in Zuluf, Marjan, Sfaniya and Ribyan offshore fields of Saudi Arabia, as per a BSE filing by L&T. "Consortium of L&T Hydrocarbon Engineering Ltd (LTHE) and EMAS AMC PTE Ltd (a subsea7 company) has been awarded a project by Saudi Aramco," it said. LTHE is a subsidiary of L&T and is based in Mumbai. The award demonstrates Saudi Aramco's trust on LTHE's capability to deliver to a challenging schedule with excellent safety and quality performance, it said. LTHE's fabrication facilities in the Middle East and India are fully equipped to execute these challenging projects, the company added. subsea7 is a Luxembourg-based offshore projects delivering company.

Will work to re-energise growth, says new Mindtree CEO Debashis Chatterjee

Chatterjee joins Mindtree from Cognizant, where he was leading the digital systems and technology practice for Teaneck

L&T puts up decent results in June quarter amid weak macro environment

While order inflow was healthy led by domestic projects, improved execution in select private sector and power segment supported growth

L&T Q1 preview: Analysts see healthy revenue growth on strong order execution

Analysts at Centrum Broking projects L&T's revenue to grow 15.4 per cent year-on-year (YoY) to Rs 32,636.6 crore as against Rs 28,283.5 crore, registered in the year-ago period.

L&T's power business bags major orders for 3 Damodar Valley Corp plants

Infrastructure company Larsen & Toubro Friday said its power business has bagged "significant" orders from Damodar Valley Corporation (DVC) to set up flue gas desulphurisation (FGD) systems in three of its power plants. DVC's three plants where FGD systems will be set up are Durgapur Steel Thermal Power Station (2x500 MW), Mejia Thermal Power Station (2x500 MW) and Raghunathpur Thermal Power Station (2x600 MW) - in West Bengal, Larsen & Toubro (L&T) said in a regulatory filing. The company did not provide value of the engineering, procurement and construction (EPC) contracts, but said the orders fall under "significant" category which ranges between Rs 1,000 crore and Rs 2,500 crore as per its classification of contracts. L&T said India's power ministry has set December 2022 as the deadline for existing thermal power plants to comply with revised emission norms. Installation of FGD systems in existing and upcoming thermal power plants has been made mandatory by ...

L&T's A M Naik appointed non-executive chairman of Mindtree

After the exit of its co-founders, the share price of the IT firm lost about a quarter of its value in the last fortnight

Mindtree employees worry over work culture shift as L&T takes charge

In the first ever hostile takeover in the domestic IT industry, L&T has acquired a controlling stake of around 60 per cent in Mindtree

'Mindtree is independent': L&T tells shareholders after shares plunge

Mindtree shares have lost close to a quarter of their value in the last two trading sessions at stock exchanges

Larsen and Toubro receives promoter's tag in Mindtree with 60% stake

Mindtree is scheduled to hold its next annual general meeting (AGM) on July 16

L&T pays Mindtree shareholders who tendered shares in open offer

Construction major Larsen & Toubro, which holds over 60 per cent stake in Mindtree, said Tuesday it has made payments to shareholders who tendered their shares successfully in the recently-concluded open offer. "...we wish to inform you that Larsen & Toubro has today made payment of consideration to the shareholders of the target company (Mindtree) who have tendered their shares in the open offer, in respect of the equity shares which have been accepted in the open offer and returned the equity shares which have not been accepted in the open offer to the demat accounts of the respective shareholders," L&T said in a regulatory filing. The infrastructure major's open offer - at Rs 980 a share - began on June 17 and concluded on June 28. "Consequent to the completion of the open offer, the shareholding of the company (L&T) in the target company, including the shares acquired under the Share Purchase Agreement and the Purchase Order, stands at 60.06 per cent of the total ..

Remuneration for L&T's top three officials up 45-100% in FY19: Report

Remuneration for the company's CEO and MD S N Subrahmanyan rose 52.36%

Valuations under pressure as Street seeks management stability in Mindtree

Management transition process would also weigh on the company's new client additions and overall operations, further denting its near-term growth

L&T's stake in Mindtree crosses 60% as open offer is fully subscribed

According to data available with exchanges, against an offer of 51.3 million shares, L&T has so far received bids for 55.4 million shares

L&T wins more than Rs 7,000 crore order for building power plant in Bihar

The new project will help improve L&T's capacity utilisation, but the company's orders from the private sector continue to remain muted.

L&T set to construct Navi Mumbai airport, likely to finish by mid-2020

The board of City and Industrial Development Corporation (CIDCO), which is carrying out the project, met on Friday to consider the contract

L&T acquires 27,000 shares of Mindtree, raises shareholding to 28.88%

Infrastructure major Larsen and Toubro (L&T) on Thursday acquired about 27,000 shares of Mindtree from open market, raising its shareholding in the IT services firm to 28.88 per cent, according to a regulatory filing. "Larsen and Toubro Ltd has acquired 26,974 equity shares (with a face value of Rs 10 each) of Mindtree Ltd on May 30, 2019," a BSE filing by Mindtree said. After the latest transaction, L&T's shareholding in Mindtree stands at 28.88 per cent. The latest stock purchase was made at Rs 980 apiece. Earlier this month, L&T purchased around 20 per cent stake of V G Siddhartha and Cafe Coffee Day in Mindtree through a block deal for about Rs 3,210 crore, and has since topped that up with share purchases from open market. On Monday, L&T had acquired 2.3 lakh shares of Mindtree, followed by an additional about 4.5 lakh shares over the next two days from the open market. In the week of May 20-24, L&T had purchased shares worth over Rs 316 crore. In all, the ...

L&T acquires 97,815 shares of IT firm Mindtree, raises stake to 28.97 pc

Infrastructure major Larsen and Toubro (L&T) on Wednesday acquired about 98,000 shares of Mindtree from open market, taking its shareholding in the IT services firm to 28.87 per cent, according to a regulatory filing. "Larsen and Toubro Ltd has acquired 97,815 equity shares (with a face value of Rs 10 each) of Mindtree Ltd on May 29, 2019," a BSE filing by Mindtree said. After the latest transaction, L&T's shareholding in Mindtree stands at 28.87 per cent. The latest stock purchase was made at Rs 980 apiece. Earlier this month, L&T purchased around 20 per cent stake of V G Siddhartha and Cafe Coffee Day in Mindtree through a block deal for about Rs 3,210 crore, and has since topped that up with share purchases from open market. On Monday, L&T had acquired 2.3 lakh shares of Mindtree, followed by another 3.56 lakh shares on Tuesday from the open market. In the week of May 20-24, L&T had purchased shares worth over Rs 316 crore. In all, the infrastructure major is ...

L&T March quarter profit rises 8% to Rs 3,418 cr on improved operations

Larsen & Toubro revenues up 10% to Rs 22,934 cr; firm guides for 10-12% order inflow growth in FY20.

L&T net up 8% at Rs 3,418 cr in Q4; dividend of Rs 18 a share announced

Its PAT stood at Rs 3,167.47 crore during the corresponding period a year ago, according to a BSE filing

L&T nears 26% threshold in Mindtree after open-market transaction

L&T on Wednesday bought over 3.75 million shares, which is 2.29 per cent of Mindtree's total share base, at an average price of Rs 979.96 per share