Page 5 - Larsen And Toubro

Larsen and Toubro bags significant contract by Ministry of Defence

The defence arm of Larsen & Toubro has been awarded a significant contract by the Ministry of Defence for the supply of four regiments of Pinaka weapon systems.The contract involves the supply of Pinaka launchers, battery command posts and associated engineering support package. The system has been indigenously developed by L & T as part of Pinaka development programme of Defence Research and Development Organisation (DRDO) and functions as a high-tech, all-weather, long-range area fire artillery weapon system."As a proponent of Atmanirbhar Bharat philosophy from inception and a practising Make-in-India company, we have been associated with the Pinaka programme since its development in the 1990s and induction in armed forces and serial production since a one-and-a-half decade," said J D Patil, Member of the board and Senior Executive Vice President (Defence a Smart Technologies) at L & T."We continue to live up to our ethos to build strong India and commitment to the ...

Virtual innovations enable to honour hiring commitment during Covid-19: L&T

Amid the challenges due to COVID-19 pandemic, domestic infrastructure giant Larsen & Toubro (L&T) said virtual innovations enabled it to honour its job offers and hire 1,297 candidates from institutions like IITs and government colleges. The conglomerate had visited 112 colleges in 2019 for the recruitment of graduate and postgraduate engineering trainees for 2020. Over 18,000 candidates had applied for the recruitment and finally, 7 per cent or 1,297 were hired, Larsen & Toubro (L&T) said. "We had honoured all our offers made to these engineers and graduates from the IIT's, NIT's and government colleges last year... I am glad that L&T has been able to live up to its commitment even in these extenuating circumstances of COVID-19," S N Subrahmanyan, CEO & Managing Director, L&T Group told PTI. "It is critical that as good corporate citizens, we recognise the difficulties faced by the potential employees at personal and professional levels and have the best ..

Why ban on India's $47-bn arms imports may not have the desired effect

The banned list is also vague on the position of joint-ventures between Indian and foreign manufacturers and license produced weapon systems

L&T Metro Rail may invoke force majeure to extend operations in Hyderabad

The concession period of the project is 35 years, from the appointed date of July 5, 2012 including the initial construction period of five years

Corporate contraction

Recovery depends on how quickly the pandemic is contained

N Sivaraman appointed group CEO of Icra, to take over on August 10

Sivaraman has spent over 34 years with engineering major L&T

Ram temple to be made from stones, not steel, iron: Construction supervisor

The Lord Ram temple will be made from stones, while iron and steel will not be used, said the temple construction workshop's supervisor

L&T Board inducts Subramanian Sarma as Executive Director, promotes others

Sarma said L&T's power business has carved a niche for itself as an EPC player backed by strong and indigenous manufacturing capability

IT firms seek higher volume of work from clients amid price discount demand

Higher volume may offset losses from delayed payment in short-term; travel & hospitality, auto cliebts make max requests for delayed payment; Large IT firms likely to gain most from price war

L&T board approves fund raising up to Rs 9000 crore via various instruments

In the current financial year, L&T is the second conglomerate putting provisions in place for a fund-raising

Fighting coronavirus: L&T donates Rs 150 cr, TVS Motor 25 cr to PM-CARES

L&T and TVS Motor join a list of other corporates including Tata Group and Reliance Industries who have come forward to offer their support to fight this unprecedented crisis.

Stock market rout: India Inc's overall m-cap declines by Rs 14.2 trillion

Several blue chips such as Axis Bank, Wipro, ONGC, Bajaj Finserv, and Titan have fallen off the list following unprecedented declines in their stocks

Ram temple 'Bhoomi pujan' likely on April 30; PM Modi, RSS chief invited

On March 25, the makeshift idol of Ram Lalla at the Ram Janambhoomi will be shifted to a fibre structure in the Manas Bhawan

Will the Rs 102 trillion infra plan boost L&T and other companies?

Analysts, in unison, gave a thumbs up to the latest measure by the government to boost the sagging economy but cautioned that more needed to be done to resolve existing issues

Despite several headwinds, analysts are turning positive on L&T stock

The company has been winning large-ticket orders lately, though the orders bagged, so far, are less than the year-ago level

L&T JV bags order for THDC India's super thermal power project in UP

This is the second power engineering, procurement and construction project that L&T has won in the current financial year

L&T bags 'significant' order from NTPC to set up FGD system at MP plant

Infrastructure major Larsen & Toubro (L&T) on Monday said its power business has bagged a "significant" order from NTPC to set up flue gas desulphurisation system at Vindhyachal Super Thermal Power Station in Madhya Pradesh. L&T has received engineering, procurement and construction (EPC) order to set up flue-gas desulphurisation (FGD) system at Vindhyachal Super Thermal Power Station at stage-I & II (6x210 mega watt (MW) & 2x500 MW, the company said in a BSE filing. This is in continuation to the order received for Stage III 0 IV (2x500 MW 0 2x500 MW) in September last year, it added. The company did not provide value of the 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 installation of FGD systems in existing and upcoming thermal power plants has been made mandatory by the Ministry of Environment, Forest and Climate Change (MoEFCC), ...

L&T plans to raise up to Rs 1400 cr through NCDs on private placement basis

Infrastructure major Larsen and Toubro (L&T) on Wednesday said it plans to raise up to Rs 1,400 crore through issuance of non-convertible debentures (NCDs) on private placement basis. The company, however, did not elaborate on the reasons for raising funds. "The company proposes to issue rated, listed, unsecured, redeemable non-convertible debentures aggregating up to Rs 1,400 crore on private placement basis," L&T said in a regulatory filing. Shares of L&T were trading 1.32 per cent higher at Rs 1,331.10 apiece on BSE.

The ship is in: L&T shows private shipbuilders can deliver on time

L&T's Kattupalli shipyard took just 36 months to build and deliver the offshore patrol vessel, even though this was the first OPV it had ever built

L&T hikes shareholding in Mindtree to 28.45%, buys 2.49-million shares

Infrastructure major Larsen and Toubro (L&T) on Thursday acquired over 4.5 lakh shares of Mindtree from open market, taking its shareholding in the IT services firm to 26.93 per cent, according to a regulatory filing. "Larsen and Toubro Ltd has acquired 4,50,687 equity shares (with a face value of Rs 10 each) of Mindtree Ltd on May 23, 2019," a Mindtree filing said. After the latest transaction, L&T's shareholding in Mindtree stands at 26.93 per cent. The latest stock purchase was made at Rs 979.91 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 Wednesday, L&T had acquired 1.29 lakh shares of Mindtree from the open market. In all, the infrastructure major is eyeing up to 66 per cent stake in Mindtree for around Rs 10,800 crore -- marking the country's first-ever hostile takeover bid in