Page 3 - Larsen And Toubro

Markets end flat after choppy trade; Sensex rises 31 pts, Airtel gains 1.5%

The upmove in intra-day trade followed sharp gains in the US markets, particularly technology stocks. However, the tech-heavy Nasdaq index, which gained 2.2 per cent on Monday, saw reversing gains

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 arm secures Bhogapuram International Airport project in Andhra Pradesh

Larsen and Toubro (L&T) on Monday said its arm L&T Construction has secured a large order to construct the greenfield Bhogapuram International Airport project in Andhra Pradesh. The company did not disclose the order value. However, according to its classification, large orders value in the range of Rs 2,500 to Rs 5,000 crore. The project will initially be developed to handle 6 MPA (million passengers per annum) capacity to be further enhanced to the capacity of 12 MPA, L&T said in a statement. The Buildings & Factories & Transportation Infrastructure businesses of L&T Construction have secured a large project from the GMR Visakhapatnam International Airport Limited for the engineering, procurement and construction of the airport project. "The key development works includes cut & fill works, terminal works with airports systems, ATC tower, airfield development works (south runway 3,800 m length, apron, taxiways, airfield ground lighting, fuel hydrant works .

Larsen and Toubro fixes September 12 as record date for share buyback

Larsen and Toubro (L&T) has fixed September 12, 2023 as the record date for determining the entitlement and eligibility of equity shareholders for participation in the company's share buyback plan. On July 25, the board of directors of the company approved a proposal to buy back shares worth up to Rs 10,000 crore, excluding tax on buyback. On August 25, shareholders of the company approved the buyback of up to 3,33,33,333 fully paid-up equity shares of face value of Rs 2 each for an aggregate consideration not exceeding Rs 10,000 crore at a price of Rs 3,000 per equity share on a proportionate basis by way of a tender offer route using stock exchange mechanism. In a public notice on Monday, the company said the equity shares proposed to be bought back shall be divided into two categories -- reserved category for small shareholders and the general category for other eligible shareholders. On the objectives behind the move, the company said it had formulated its "Lakshya 26 ...

L&T Construction wins orders for power transmission & distribution business

Orders to establish two new 132kV substations have been received from a public services infrastructure company in Dubai

Infosys to Reliance: Gauging the economy through Q1 corporate results

Numbers show subdued overseas demand for services, gradual recovery in consumer demand and the impact of high interest and inflation

L&T to consider share buyback next week, bags bullet train project order

Infrastructure major Larsen and Toubro's board will meet next week to consider a proposal to buy back shares and payment of a special dividend for FY2023-24, according to a regulatory filing. The proposals will be taken up at the company's board meeting scheduled for July 25, Larsen & Toubro said in a filing. The company in a separate filing on Friday announced that its construction unit, L&T Construction, has bagged a 'mega' contract from the National High-Speed Rail Corporation Limited (NHSRCL) to construct the 135.45 km stretch MAHSR C3 package which is part of the prestigious Mumbai Ahmedabad High-Speed Rail Project. The scope for the MAHSR C3 package includes the construction of viaducts, stations, major river bridges, depots, tunnels, earth structures, stations, and other auxiliary works. The approximately 508 km Mumbai-Ahmedabad High-Speed Rail project, also called the MAHSR Bullet Train project, will cover 155.76 km in the state of Maharashtra, 4.3 km in the Union ...

L&T signs Master Ship Repair Agreement with US Navy, to boost Indo-US bond

L&T's Kattupalli Shipyard, near Chennai, a major node in the Southern Defence Corridor, has been undertaking voyage repairs of the Military Sealift Command vessels, the firm said in a statement

L&T to build energy infra for world's largest green hydrogen plant at NEOM

The value of the packages awarded to L&T aggregate to $2.779 billion

Larsen & Toubro expects to win Rs 2-trillion order from Centre in FY24

The company ended the financial year 2022-23 with record orders of Rs 4 trillion

RBI Policy: Time to be selective in rate sensitives; keep DLF, SBI on radar

As per the charts, SBI and DLF need to conquer the near resistances at Rs 620 and Rs 420, respectively, for fresh gains to emerge.

Top Gainers and Losers, NSE: TECHM grows 3.4%; ULTRAMCEMCO falls 1.9%

Today NSE Top Gainers and Top Loser, 9 Sept: Tech Mahindra rose by 3.4 percent, UltraTech cement falls by 1.97 percent. Read this detailed report on gainers and losers in National Stock Exchange

Tata Projects to build Noida International Airport; pips L&T, Shapoorji

Tata Projects will construct the terminal, runway, airside infrastructure, roads, utilities, landside facilities and other ancillary buildings at Noida International Airport

L&T Q4 net profit rises 10% to Rs 3,621 cr, firm declares dividend of Rs 22

Company reports 10% jump in consolidated revenue at Rs 52,851 cr

Larsen & Toubro's construction arm bags 'significant' order in Bangladesh

Larsen & Toubro (L&T) on Wednesday said that its construction arm has bagged a 'significant' order to construct hi-tech IT parks at eight locations across Bangladesh. This project is being funded by the Indian EXIM Bank and is the first IT and office space order that L&T has secured in Bangladesh. "The construction arm of Larsen & Toubro has secured an order from the Bangladesh Hi-Tech Park Authority to construct Hi-Tech IT Parks at 8 locations (2 packages at 4 locations each) across Bangladesh," the company said in a statement. The company did not provide the value of the contract, but said the order falls under the significant category, which ranges between Rs 1,000 crore and Rs 2,500 crore, according to the classification of contracts. The major scope of work for the project comprises procurement and construction of seven-storied structural steel buildings at all eight locations. The scope also includes lift, electrical, fire fighting system and public health ...

L&T, Microsoft sign pact to develop regulated sector-focused cloud offering

Larsen & Toubro (L&T) and Microsoft India on Monday announced signing of a pact to develop a regulated sector-focused cloud offering to empower customers with the best-of-breed cloud computing and infrastructure services. In line with emerging regulations, L&T and Microsoft will co-engage with a defined set of large customers in regulated sectors to develop architectures and road maps to modernise their traditional data centres to potentially hybrid models and advance their digital transformation goals. Under the memorandum of understanding (MoU), the two industry leaders will set up a joint governance group to define future platform designs, investments, and commercial/business models to service the regulated sectors' emerging technology requirements, according to a statement. Senior leadership teams of both the organisations will be engaged collectively on this as the association evolves. "India is at the cusp of enormous cloud adoption, as innovation, scale and agility .

L&T bags 'large' offshore contract from ONGC for pipeline project

Larsen & Toubro (L&T) on Friday said that its wholly-owned arm has bagged a large offshore contract from ONGC for the seventh development phase of their pipeline replacement projects. This contract, awarded through international competitive bidding, reposes ONGC's confidence in L&T Hydrocarbon Engineering (LTHE) capabilities and commitment to support ONGC in strategic oil and gas sector, and contribute to country's energy security. "LTHE, a wholly owned subsidiary of Larsen & Toubro, has secured a contract from...ONGC for the seventh development phase of their Pipeline Replacement Projects (PRP-VII)," the company said in a statement. The contract involves engineering, procurement, construction, installation and commissioning of 350 km subsea pipelines and related offshore works spread out across country's west coast offshore fields of ONGC. Organised under offshore, onshore, construction services, modular fabrication and advanced value engineering & technology ...

Larsen & Toubro dispatches six of world's largest coke drums to Mexico

Larsen & Toubro (L&T) on Thursday said its heavy engineering arm has dispatched six of the world's largest coke drums to Mexico. These coke drums were successfully manufactured during the COVID-19 pandemic at L&T's state-of-the-art Heavy Engineering Complex located at Hazira near Surat, the company said in a statement. "The heavy engineering arm of Larsen & Toubro, dispatched six of the world's largest coke drums weighing 658 tons each for a refinery project in Mexico ordered by PTI Infraestructura de Desarrollo, (PTI-ID), a subsidiary of the Mexico's state-owned oil company PEMEX (Petrleos Mexicanos)," the statement said. These coke drums are part of a delayed coking unit in the PEMEX Dos Bocas Refinery Project, which will convert the residue from the combined distillation plant into higher-value products. "We thank PTI-ID for reposing faith in L&T for supplying world's largest Coke Drums for such prestigious project. It's heartening to have lived up to the ...

L&T bags two 'mega' offshore orders from overseas client

A consortium led by LTHE, a wholly-owned arm of Larsen & Toubro, has bagged two mega offshore orders from a prestigious overseas client. The engineering and construction company, however, did not provide the exact value of the contract, but specified that as per its classification, a mega project is of over Rs 7,000 crore. The scope of work comprises engineering, procurement and construction (EPC) for new facilities and integration with existing installations, Larsen & Toubro (L&T) said in a statement. LTHE is currently executing several domestic and international offshore projects. It is also committed to building its regional presence in geographies that it operates by growing local skills and talent, improving procurement from local vendors, engaging commercially with local contractors on the foundation of a sustainable workload. Organised under offshore, onshore, construction services, modular fabrication and advanced value engineering & technology (AdVENT) ...

L&T Infotech Q2 net profit rises 21% to Rs 552 cr, revenue up 26%

'We report the strongest sequential revenue growth and best ever Q2 of 8.9% in constant currency terms,' says company CEO