Page 19 - L&t

L&T buys shares of Mindtree worth Rs 144 crore through open market

The company is currently in the process of buying an additional 15 per cent stake from the open market

L&T buys Mindtree shares worth Rs 113 cr via open market in takeover bid

L&T is in fray to buy up to 46 per cent more stake in Mindtree.

L&T bags gas export pipeline contract from Kuwait Oil Company, stock gains

Infrastructure major Larsen & Toubro Ltd (L&T) Monday said it has won a gas export pipeline contract from Kuwait Oil Company (KOC). The company said the order falls under "large" category that range between Rs 2,500 crore and Rs 5,000 crore as per its classification of contracts. "The new strategic gas export pipeline contract has been awarded through international competitive bidding on a Lump Sum Turn Key (LSTK) basis," L&T said in a regulatory filing. The company said the new export gas strategic pipeline and its associated facilities will run a span of around 145 km. Shares of the company were trading at Rs 1,410.85 apiece, up 1.94 per cent, from the previous close on BSE.

Larsen & Toubro expects $1 billion revenue from L&T Nxt in 5-7 years

Infrastructure giant Larsen & Toubro is eyeing more than USD 1 billion revenue from its newly launched new-age technology platform L&T Nxt in the next five to seven years, a top company official has said. The L&T Nxt initiative, which was launched last week, will focus on the areas of artificial intelligence, internet of things (IoT), virtual reality, augmented reality, geospatial solutions as well as cybersecurity. The announcement came at a time when L&T has made an offer to buy up to 66 per cent stake in IT firm Mindtree for around Rs 10,800 crore. It has entered into a deal to buy Cafe Coffee Day owner V G Siddhartha's 20.32 per cent share in Mindtree and has also placed an order with brokers to pick up another 15 per cent of the company shares from the open market. "This is more like a start-up ... this is more of an initiative going into outside market. Many of our initiatives have resulted in success stories. We will be looking at beyond a billion dollars in ...

Away from riskier EPC, L&T gives IT services another shot with Mindtree

L&T will create multiple firsts for itself - initiating a hostile takeover being one of them

Our offer for Mindtree a win-win deal for both, says L&T top brass

L&T management led by its CEO & MD SN Subrahmanyan and L&T's CFO and Member of Board R Shankar Raman said the firm was interested in growing its services business where returns are higher

Larsen & Toubro gains 4% as Q3 results beat Street estimates

Shares of Larsen & Toubro (L&T) were up 4 per cent to Rs 1,337 on BSE in the early morning trade in an otherwise weak market after the company reported 37 per cent YoY rise in consolidated net profit.

L&T Construction bags orders worth Rs 1,060 crore in domestic market

Larsen & Toubro (L&T) Thursday said its construction arm has won orders worth Rs 1,060 crore in the domestic market. "The smart world and communication business has secured a major order from the Andhra Pradesh State FiberNet Limited (APSFL) for Bharatnet Phase-II works to establish an IP/MPLS Infrastructure covering the 13 districts of Andhra Pradesh," the engineering and construction major said in a BSE filing. The scope of the work involves creation of a digital infrastructure-including-implementation, end to-end integration and commissioning of Internet Protocol/Multiprotocol Label Switching (IP/MPLS) Network, network operating centre, disaster recovery and cloud-based data centre the company added. L&T said another order has been secured from Pimpri-Chinchwad Smart City for the creation of a city network backbone and implementation of smart elements such as Wi-Fi, smart kiosks and variable message displays across the city. Shares of the company were trading at Rs ...

L&T IT twins: Deal wins, client relationships offer revenue visibility

Large deal wins, client relationships, and strong presence in growth verticals offers revenue visibility

L&T Construction wins orders worth Rs 11.27 bn across 2 business segments

Larsen & Toubro (L&T) Monday said its construction arm has won orders worth Rs 1,127 crore across two of its business segments. In the metallurgical and material handling business, the company bagged contracts worth Rs 755 crore. "An order has been secured from Hindustan Zinc for the construction of an 1.5 MTPA (million tonne per annum) lead-zinc beneficiation plant at R D Mines, Rajasthan...," the company said in a statement. In the buildings and factories business, the firm said an order worth Rs 372 crore has been secured. The factories business unit of the buildings and factories vertical has secured a prestigious order for the brownfield expansion of Viscose Staple Fibre manufacturing facility from Grasim Industries (cellulosic division) at Vilayat, Bharuch, Gujarat, the company said. The scope includes civil, structural, architectural and external development works. The business has earlier executed a green-field project at the same location for Grasim industries, it ...

L&T only Indian firm among 25 companies in Forbes' best employer list

While L&T is ranked 22, there are only four domestic firms in the top 100 list which include Mahindra & Mahindra at 55, Grasim Industries at 59 and HDFC at 91

L&T: Healthy pace of project execution, cost initiatives may drive profits

The recent stock price correction offers a good entry point for investors

L&T offloads 6.08% stake in L&T Infotech, pares parent's shareholding

Larsen and Toubro Infotech (LTI) Wednesday said its promoter Larsen and Toubro (L&T) has offloaded 6.08 per cent stake in the company, paring the parent's shareholding to 75 per cent. L&T had earlier said it intended to make an offer for sale of up to 59 lakh equity shares, representing 3.41 per cent holding of LTI, on September 3 and 4, 2018. It had also provided for an option to "additionally sell 46,27,288 equity shares, representing 2.67 per cent of the total paid up equity share capital" of LTI. In a regulatory filing Wednesday, LTI said: "We are hereby notifying the information regarding the change in our shareholding in the company which has decreased by 6.08 per cent pursuant to the...sale of shares...on September 3 and 4, 2018". Post the transaction, L&T now holds 75 per cent stake in LTI, it added. The floor price of the offer was set at Rs 1,700 per equity share of LTI.

L&T proposes first-ever buyback, size could be up to Rs 123 billion

The company is holding its annual general meeting on Thursday

With on-time delivery, L&T stakes claim to build warships and submarines

Industry analysts say L&T is demonstrating its capability in order to position itself for the coming multi-billion dollar Project 75-I contract to build six new submarines

Larsen & Toubro's hydrocarbon business records a profit margin of 7.7%

For 2015-16, the hydrocarbon segment reported earnings before interest, taxation, depreciation and ammortisation (Ebitda) margins of 0.6%

Stalled projects worth Rs 496.20 billion a worry for Larsen & Toubro

Since 2013-14, the company has classified orders totalling Rs 496.20 billion as slow moving or non-moving

Larsen & Toubro to sell its electrical unit to Schneider for $2.1 billion

The company, which makes submarines, and builds airports to nuclear power plants, has been pruning non-strategic and sub-scale businesses

SFIO receives complaint against L&T of alleged financial irregularities

The Serious Fraud Investigation Office (SFIO) has received a complaint against Larsen & Toubro alleging "thousands of crores" of financial irregularities, including money laundering and tax evasion, a charge that the infrastructure giant rubbished as "baseless". Acting on the complaint received, SFIO's Mumbai regional office has written to the head-office here stating that it "is a fit case to be investigated" as it will "help in unearthing wrong doings of L&T group, in terms of misappropriation of money, money laundering and tax evasion". In the complaint, Rajya Sabha MP Kahkashan Perween has alleged that loans worth Rs 8,000 crore given to the Group for road projects face serious threat of turning into NPAs. It alleged irregularities in two projects - L&T Halol Shamlaji Tollway Ltd (L&T Halol) and L&T Chennai Tada Ltd. L&T and its arms, which are engaged in highway projects have been termed as "habitual defaulters" by NHAI, which is likely to have a severe ...

L&T JV bags Rs 4.42-bn order for supply of forgings for steam generators

Larsen & Toubro today said its joint venture with Nuclear Power Corporation of India Ltd (NPCIL), had received Rs 442 crore order for supply of forgings for nuclear steam generators. " L&T Special Steels and Heavy Forgings Pvt Ltd, a joint venture of Larsen & Toubro Ltd (L&T) and Nuclear Power Corporation of India Ltd (NPCIL), has received an order worth Rs 442 crore from NPCIL to supply forgings for steam generators," L&T said in a BSE filing. These forgings will be used in the manufacturing of the critical equipment for six new indigenous pressurised heavy water reactors (PHWRs), it added. Shares of L&T were trading 1.07 per cent higher at Rs 1,304 on BSE.