Page 7 - L&t

Edelweiss Alternatives completes acquisition of L&T IDPL for Rs 6,000 cr

Edelweiss Alternatives on Thursday announced that it has completed the Rs 6,000 crore deal to acquire L&T Infrastructure Development Projects (LTIDPL), which owns various road assets and power transmission lines. The deal to buy LTIPDL, a joint venture where infra major L&T had a 51 per cent stake and its partner Canada Pension Plan Investment Board had the rest, was first announced in December 2022. The Edelweiss arm is buying 100 per cent ownership in the JV and will get a portfolio comprising seven road assets spanning 4,400 lane-km and a 960 circuit km power transmission line, according to a statement. After this acquisition, the infra platform's overall portfolio will go up to 26 assets, comprising 5,000 lane-km of roads, 1,800 ckms of power transmission assets and 813 MWp of renewables, with a cumulative annual revenue of Rs 3,000 crore, it added. A statement from L&T said the stakes have been acquired by Epic Concesiones, an investee company of Edelweiss ...

UK Navy ships to undergo maintenance at L&T Shipbuilding's TN facility

For the first time, two ships of the United Kingdom's Royal Navy, owned by the Royal Fleet Auxiliary, have arrived at Larsen and Toubro's Shipbuilding facility at Kattupalli near here for scheduled maintenance activities. RFA 'Argus' and RFA 'Lyme Bay' arrived at the shipyard located in Ennore, North of Chennai for 'Assisted Maintenance Period' and Self Maintenance Period", respectively, a press release from L&T Shipbuilding said on Friday. "The successful collaboration between the Royal Navy and L&T Shipbuilding exemplifies the spirit of partnership and is a direct result of the logistics-sharing agreement signed between the United Kingdom and India in 2022," L&T Member of Executive Council of Management and Advisor to CMD J D Patil said. "This is the first instance that Royal Navy ships are undergoing scheduled maintenance routines in India. This move signifies a step towards India-UK 2030 roadmap and reflects a shared understanding of the global security challenges in ..

SBI to L&T: NSE revises F&O lot size of derivative contracts for 54 stocks

Exchange has cut the lot size for the futures and options contracts of 42 stocks to half of the current lot sizes. The revised lot sizes will be effective from 26 April for expiries in May or later

Jefferies: L&T and Zomato among 11 stocks expected to double or triple in 5 years

Jefferies has released a list of 11 stocks expected to give 15-25% CAGR returns over the next 5 years. Watch the video to know which company’s shares made it to the list.

L&T wins Rs 5,000 crore major onshore gas pipeline project in West Asia

This is the largest cross-country pipeline EPC (Engineering, Procurement, and Construction) project awarded to us to date, said Subramanian Sarma, whole-time director and senior executive vice prez

Larsen & Toubro gains 2% on winning 'major' order from Middle East client

L&T classifies orders ranging between Rs 5,000 crore and Rs 10,000 crore as 'major' orders

L&T Finance, L&T Infra Credit, 5 NBFCs surrender registration certificates

L&T Finance, L&T Infra Credit, and five other non-banking financial companies (NBFCs) have surrendered their certificates of registration to the Reserve Bank of India. Following this, the central bank cancelled their Certificate of Registration (CoR) as they ceased to be a legal entity after amalgamation, merger, dissolution or voluntary strike-off. In December last year, L&T Finance Holdings (LTFH) had announced the completion of merger of subsidiaries L&T Finance, L&T Infra Credit, and L&T Mutual Fund Trustee, with itself. The other five NBFCs which surrendered their CoR are Marudhar Food & Credit Ltd, Creative Intra Ltd, Jinvani Trading & Investment Company, Manjushree Fincap, and Shruti Financial Services. In another statement, the RBI said it has cancelled CoR of four NBFCs -- Nimisha Finance India, R.M.B. Finance Company, Suyash Finovest, and Kamdhar Leasing and Finance Ltd. These four companies cannot transact the business of a non-banking ...

Electrolyser manufacturing: RIL, Adani, L&T win incentives in maiden tender

The tender was floated under Centre's Green Hydrogen Mission

In Aatmanirbhar push, MoD makes indigenous purchases worth Rs 40K cr

The contract for buying ship-borne BrahMos systems has also been signed with BrahMos Aerospace for Rs 988 crore

L&T gains nearly 4% on commissioning its first Hydrogen electrolyser

The electrolyser will now undergo rigorous testing in the coming weeks to optimise its performance, the company said

Stocks to watch: Paytm, Tata Group, Airtel, Biocon, Suven, Vedanta, L&T

Stocks to watch on March 1, 2024: L&T has commissioned its first hydrogen electrolyser at the green hydrogen plant at Hazira, Gujarat

Bidding pipeline in West Asia remains very strong: Larsen & Toubro

Analysts tracking L&T noted the company was an L1 bidder for a $2.5 billion contract related to this expansion project

L&T bags 'large' contract for hydrocarbon biz from IndianOil Adani Ventures

The scope of work includes engineering, procurement, construction, and commissioning of offsite tankages, bullets and other associated facilities on lump sum turnkey basis

Quantifying capex is reassuring but expect it to change in July: L&T CFO

I was just expecting her to say we will continue to keep focus on infra, he says

L&T Q3 results: Net profit up 15.4% at Rs 2,947 cr on robust order inflows

Company expects to end FY24 at 20% growth in orders

L&T's Heavy Engineering unit bags 'significant' orders in India, overseas

Larsen & Toubro (L&T) on Tuesday said that its arm Heavy Engineering has bagged 'significant' orders in the domestic and international markets. The company did not disclose the value of orders. However, according to company, the value of significant order is between Rs 1,000 crore and Rs 2,500 crore. "L&T Heavy Engineering (HE)'s Modification, Revamp and Upgrade (MRU) business segment has bagged a major order from a key oil and gas customer...for their important debottlenecking project. For the last couple of years, MRU business has concentrated on Middle East opportunities and this order is an important milestone for MRU business in the Middle East," the company said in a filing to BSE. In another development, MRU business has also secured the Coke Drum critical repair project from (Indian Oil Corporation Ltd) IOCL Gujarat Refinery, according to the filing. The company has also secured orders for several critical equipment in the process plant equipment segment ...

L&T wins Rs 1,040 cr contract for part of Bengaluru suburban rail project

Larsen and Toubro was issued the Letter of Acceptance on Saturday for the design and construction of an elevated viaduct including associated works between Heelalige and Rajanukunte of Corridor-4 of the Bengaluru Suburban Rail project, officials said. The contract price is Rs 1,040.51 crore including GST and the contract period is 30 months. The physical work is expected to commence shortly, they said. In a statement, Karnataka's Rail Infrastructure Development Company (K-RIDE) said, "Larsen and Toubro has been issued the Letter of Acceptance today for the design and construction of elevated viaduct of length 8.960 km and At-Grade of length 37.920 km (excluding station buildings) including associated works between Heelalige and Rajanukunte, on EPC (Engineering, Procurement and Construction) mode, in Corridor-4 or 'Kanaka' line of Bengaluru Suburban Railway Project (BSRP)." This contract also includes construction of a double decker alignment of 1.2 km length for BSRP Corridor-1 and

L&T wins upward of Rs 5,000 cr order for Saudi Arabia's Amaala project

AMAALA is an ultra-luxury destination situated in the Prince Mohammed bin Salman Natural Reserve along Saudi Arabia's northwestern coast

L&T Construction bags contract for AMAALA project in Saudi Arabia

Larsen & Toubro (L&T) on Wednesday said its construction arm has bagged a contract to establish various systems related to green energy generation and utilities for an ultra-luxury tourism destination in Saudi Arabia. "The construction arm of Larsen & Toubro has been chosen as the turnkey engineering, procurement and construction (EPC) contractor....for the AMAALA project in the Red Sea region, Saudi Arabia," the company said in a filing to BSE. AMAALA is an ultra-luxury destination set in the Prince Mohammed bin Salman Natural Reserve along Saudi Arabia's northwestern coast. Spanning 4,155 square kilometer, the project features pristine landscape and diverse natural ecosystems, coupled with unique and intriguing heritage and local culture. "The award of this prestigious contract stands testimony to the synergistic strength of diverse offerings of L&T Construction in providing innovative solutions to customers keen on sustainable, clean and reliable electricity and ...

L&T hits fresh high on EPC order win of Rs 5K-10K crore; zooms 70% in 2023

L&T classifies a 'major' order as the one worth anywhere between Rs 5,000-Rs 10,000 crore