Page 8 - L&t

Stock markets settle marginally higher on late buying; L-T, RIL advance

Benchmark equity indices Sensex and Nifty eked out gains on Wednesday following late buying in capital goods, auto and energy shares as investors adopted a cautious approach ahead of the US Fed interest rate decision to be announced later in the day. The 30-share BSE Sensex advanced 33.57 points or 0.05 per cent to settle at 69,584.60, driven by late buying. During the day, it fell 450.47 points or 0.64 per cent to 69,100.56. The Nifty gained 19.95 points or 0.10 per cent to 20,926.35. Among the Sensex firms, NTPC, Power Grid, Mahindra & Mahindra, Larsen & Toubro, Sun Pharma, State Bank of India, Titan and Tata Steel were the major gainers. Tata Consultancy Services, Infosys, Axis Bank, Bajaj Finserv, UltraTech Cement and Bajaj Finance were the major laggards. In Asian markets, Seoul, Shanghai and Hong Kong settled lower while Tokyo ended in the positive territory. European markets were trading with gains. The US markets ended in the positive territory on Tuesday. Global oil ..

Outperformance prompts funds to explore defence exemption for L&T

The report further added that the management continues its proactive discussions with ESG agencies on the defence exposure

L&T, RIL, AU Small Finance Bank: Chris Wood rejigs India equity portfolio

This, he wrote in his weekly note, GREED & fear, will be paid for by reducing the existing investments in Bajaj Finance, Oil & Natural Gas Corporation (ONGC), and Reliance Industries (RIL)

With over Rs 10K cr win, L&T races to another robust quarter for orders

As of Monday, L&T has reported new order wins for FY24, just shy of the Rs 2 trillion mark by a few hundred crore

Stocks to Watch: L&T, Bharti Airtel, SBI Card, Dixon, Cipla, Bajaj Finance

Stocks to watch on November 20, 2023: SBI Card said that its capital adequacy ratio is expected to decline by 4 per cent due to the RBI's latest move on tightening consumer loan norms

Worked 15 hrs a day, slept on office table after long days at L&T: Naik

L&T chairman emeritus A M Naik on Friday said he worked 15 hours a day and slept on the office table after long days at work, as he built the engineering giant in over five decades. In remarks that come amid an uproar caused by N R Narayana Murthy's suggestion asking youngsters to put in 70 hours of work per week to build the nation, Naik said after putting in 15 hours a day at work, he used to go back home and think about L&T for another one hour. Naik credited former Defence Minister George Fernandes for helping save L&T during a corporate takeover battle mounted by the Birlas, and added that the politician's socialist leanings made him a big believer in not letting a company go into the hands of a big business house. During his career, he has met many Prime Ministers, Naik said and claimed without elaborating that sometimes the Prime Ministers have been able to retain their jobs because of L&T. Reminiscing about his career, starting from how he joined the company, ..

L&T to divest 100% stake in subsidiary LTIEL to focus on core businesses

L&T on Friday said it will sell its 100 per cent stake in subsidiary L&T Infrastructure Engineering Ltd (LTIEL) to a French entity. This transaction aligns with the company's commitment to focus on its core businesses and assets. "L&T...has announced the divestment of its 100 per cent stake in L&T Infrastructure Engineering Ltd ," the company said in a statement. LTIEL is a provider of standalone engineering consultancy services for the infrastructure sector. The stake will be acquired by STUP Consultants Pvt Ltd, a subsidiary of Assystem SA of France. The transaction, which is subject to meeting certain conditions, is likely to be completed before January 15, next year. "This is a step to exit the non-core standalone consulting engineering practice and focus energy and attention on our core businesses. It not only benefits L&T but also allows LTIEL and its employees greater avenues of growth," D K Sen, Advisor to Chairman and Managing Director, L&T said.

Sensex ends 284 pts lower, Nifty below 19K again; Asian Paints, metals drag

Stock market on November 1, 2023: On the positive front, Sun Pharma gained nearly 3 per cent; Debutant Blue Health hit upper circuit on debut.

L&T Q2FY24 consolidated net profit tops 44%; offshore revenue shines

It sees no major impact of Israel-Hamas war on West Asia projects

L&T Q2 results: Consolidated profit rises 45% to Rs 3,222.63 crore

Engineering and construction giant Larsen & Toubro (L&T) on Tuesday reported a 44.5 per cent increase in its consolidated net profit to Rs 3,222.63 crore for the quarter ended September 30, 2023. The company had posted a consolidated net profit of Rs 2,228.97 crore in the year-ago period, L&T said in a regulatory filing. The consolidated income of the company during July-September 2023 increased to Rs 52,157.02 crore from Rs 43,501.14 crore in the year-ago period. "The company for the quarter ended September 30, 2023, posted a consolidated Profit After Tax (PAT) of Rs 3,223 crore, registering a significant growth of 45 per cent compared to the corresponding quarter of the previous year," the company said in a statement. Larsen & Toubro is a USD 23 billion Indian multinational engaged in engineering, procurement, and construction (EPC) projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide.

Stocks to Watch: TVS Motor, RIL, Tata Motors, Marico, DLF, Triveni Eng, P&G

Stocks to watch on October 31, 2023: Reliance Jio has made a contrarian call vis-a-vis competitors by deciding not to raise the 5G tariff, which is currently at the same level as 4G

L&T's Power Business wins EPC orders West Bengal Power Development Corp

The Power Transmission & Distribution Business of Larsen & Toubro will set up wet Flue Gas Desulphurization (FGD) systems for its thermal power plant at Sagardighi, West Bengal

Larsen & Toubro up 3% on securing large orders; jumps 49% so far in 2023

L&T's power biz arm on Wednesday bagged orders worth up to Rs 2,500 cr from the WBPDC, while on Tuesday, the transportation infrastructure biz arm received a project worth up to Rs 5,000 cr

L&T's middle east order book swells with Saudi Arabia's construction boom

As of June, L&T reported an outstanding order book of Rs 4.12 trillion, with Rs 1 trillion of these orders originating from the Middle East

India's 'intrapreneur'

A M Naik created an exemplar of professional management

L&T bags Rs 7,000 crore mega contract for underground road tunnel

Engineering and construction conglomerate Larsen & Toubro (L&T) on Friday said it has bagged a mega order worth over Rs 7,000 crore to design and construct an underground road tunnel. The project was won by heavy civil infrastructure business vertical of L&T Construction from Mumbai Metropolitan Region Development Authority (MMRDA). The contract is for design and construction of an underground road tunnel between Orange Gate, Eastern Free Way to Marine Drive coastal road in Mumbai. In a statement, the company said that the scope of work for project comprises design and construction of twin road tunnels using tunnel boring machines (TBMs), connecting these tunnels to the existing elevated Eastern Freeway at Orange Gate near its southern terminal through transition ramps and to Marine Drive in Mumbai. The project is expected to be completed in 54 months. L&T is a USD 23-billion multinational firm which is engaged in engineering, procurement and construction projects, ...

Sensex, Nifty snap 4-day losing run; Bajaj Fin gains 4.5%, IT stocks weigh

Closing Bell on September 25, 2023: The broader markets ended with steady gains with the BSE MidCap index advancing 0.46 per cent, and the BSE SmallCap 0.12 per cent

Rana Kapoor gets relief from SAT; Bain Capital sells 2.82% in L&T Finance

Bain Capital sells 2.82% in L&T Finance

Mid, SmallCap indices sink up to 4% ahead of CPI inflation; benchmarks flat

Closing Bell on September 12, 2023: Among sectors, the Nifty Media index declined nearly 4 per cent, the Nifty Metal index nearly 3 per cent, and the Nifty PSU Bank and Auto indices up to 2.5 per cent

L&T turns ex-date for buyback; zooms 4% on raising buyback price to Rs 3200

The company has revised the buyback price upwards from Rs 3,000 per share to Rs 3,200 per share