The L&T chief added, "We can drastically reduce our dependency on imported products including those from China by putting processes and systems in place"
L&T said its construction arm secured large orders from prestigious clients for its various businesses.
Cidco's queries to GVK group on its financial health comes as the latter has been unable to secure funds from banks and start work on the project.
Usually, Q4 is an execution-heavy quarter for capital goods players, but the lockdown has affected execution and deliveries for most companies.
Companies like Siemens suggest the government needs to reduce the cost of doing business to ensure domestic firms grow
FM Nirmala Sitharaman had announced a series of measures to boost investments in India's defence and aerospace sector last week as part of the tranche 4 of the Rs 20 trillion economic stimulus
Refinancing high-cost debt into low-cost debt is possible, thanks to the RBI's TLTROs
In a two-part series, Business Standard takes stock of order books of infrastructure companies and whether they will be able to withstand the lockdown-induced economic slowdown
Analysts raise concerns over Q1 show, firm to shift focus to Africa as West Asian market turns weak
Companies with stronger balance sheet and early cycle plays like L&T, J Kumar Infra, IRB Infra, Sadbhav Engineering and NCC though may be considered on dips, say analysts
The final step was taken when L&T secured a coveted order to create the software backbone that ill manage the AFN
Analysts see these order wins as spill-overs from the quarter ended March, 2020
Thus far in April, the company has won three 'large' and one 'significant' and 'major' contracts in India and abroad
In the past five trading days, L&T's stock has gained 10 per cent, as compared to 8.9 per cent rise in the S&P BSE Sensex
With the past two days' gain, L&T's stock has recovered 26 per cent from its multi-year low of Rs 661, touched on March 25, 2020
Although the company did not mention the exact value of the contract, according to its project classification, the value of a large order ranges between Rs 2,500 cr and Rs 5,000 cr.
The company's business is broadly divided into three baskets - engineering, procurement and construction (EPC) projects, manufacturing and defence, and services
From airlines seeking a relief package amid coronavirus concerns to L&T trying to reduce its debt, Business Standard brings you the top headlines of the day
The group has become a model for the global construction industry on how to transform itself by using cutting-edge technologies.
The ability to forge partnerships with large technology firms in niche areas and strong leadership are seen as the factors behind these optimistic projections