Page 8 - Larsen & Toubro (l&t)

L&T CFO, CEO took double-digit remuneration cuts in FY23: Annual report

In comparison, the median remuneration for all employees rose by 3.06%; average increase in pay for non-managerial employees was 7.72%

L&T bags orders in water treatment, supply systems in Uttar Pradesh

Larsen and Toubro (L&T) on Monday said it has bagged "large orders" in the water & effluent treatment segment in the domestic market. The work order has been received from the State Water & Sanitation Mission, Uttar Pradesh, to construct a water supply scheme for the Hanumanganj multi-group of villages in the districts of Ballia and Firozabad, L&T said in a statement. L&T Construction, an arm of the company, has been awarded large contracts for its water & effluent treatment business, it said. The company did not disclose the order value. According to the company's project classification, large orders are in the range of Rs 2,500 crore to Rs 5,000 crore. Homegrown L&T is a USD 23-billion company engaged in Engineering, procurement, and construction (EPC) projects, hi-tech manufacturing and services and operated in over 50 countries worldwide.

L&T supplies various components for India's moon mission Chandrayaan-3

Larsen & Toubro (L&T) on Thursday said the company has supplied various components for India's moon mission Chandrayaan-3. In a regulatory filing, the company said components like "middle segment and nozzle bucket flange" were manufactured at its facility in Powai, while components like ground and flight umbilical plates were from the company's aerospace manufacturing facility at Coimbatore. AT Ramchandani, Executive Vice President and Head, L&T Defence said, "The space sector is opening up for the Indian industry and we will leverage this long association with ISRO to play a bigger role in space programmes of the future." All these subsystems have been delivered ahead of schedule, the company said. L&T further said it has also been involved in production of a range of hardware for Chandrayaan-1 and 2, Gaganyaan and Mangalyaan missions of ISRO. India's third lunar mission Chandrayaan-3, set for lift-off at 2:35 pm on July 14, will be a follow-up mission after the ...

US Navy ship Salvor arrives at L&T Kattupalli shipyard for repairs

Rescue and salvage ship USNS Salvor reached the Larsen and Toubro's Kattupalli Shipyard near Chennai after the signing of the five-year Master Ship Repair Agreement (MSRA) between the US Navy and L&T

L&T completes transition of $150-mn credit into sustainability-linked loan

Larsen & Toubro (L&T) on Monday said it has completed the "transition" of a USD 150-million term loan into a sustainability-linked loan with Bank of America. Such loans incentivise corporate houses' sustainability performance with lower interest rates. "The sustainability-linked loan (SLL) reiterates L&T's continued commitment to its Environmental, Social and Governance (ESG) goals," the infrastructure major said in a statement. The transaction for the sustainability-linked loan (SLL) was completed on June 30, 2023. R Shankar Raman, group CFO and whole-time director of L&T, said the company continues to focus on achieving water and carbon neutrality by 2035 and carbon neutrality by 2040. The company's long-term strategic plan also outlines the ESG road map towards this goal. "This transition to SLL with Bank of America is yet another step in that journey and underlines our intent on the ESG front," he said. India-based L&T is a USD 23-billion multinational engaged .

Indinfravit closes acquisition of Rs 8,270 cr roads from Brookfield

The acquisition of the fifth road project - Gorakhpur Infrastructure Company Private Limited - is pending the receipt of requisite regulatory approvals

L&T signs 'significant' contract for hydrocarbon biz from foreign client

LTEH offers integrated design-to-build solutions across the hydrocarbon sector to domestic and international customers, said the company

L&T signs 'significant' contract for hydrocarbon biz from foreign client

LTEH offers integrated design-to-build solutions across the hydrocarbon sector to domestic and international customers, said the company

DoT against giving 5G spectrum to enterprises for private network: Report

The DoT will soon inform the cabinet and the Telecom Regulatory Authority of India (Trai) about its decision to go against private network providers

L&T bags orders worth over Rs 2,500 crore in Indian, offshore markets

Larsen & Toubro (L&T) on Monday said it has bagged large orders worth over Rs 2,500 crore in the domestic and offshore markets. The power transmission & distribution (PT&D) business of its arm Larsen & Toubro Construction has secured large orders to be set up on engineering, procurement and construction (EPC) basis, it said in a statement. In Saudi Arabia, the business has secured two orders to establish 380kV overhead power transmission lines connecting prominent cities situated on the Red Sea coast. Another order is to design, supply, and construct a 380kV substation in the central region of Saudi Arabia, the company said. "In India, the PT&D business continued its winning streak in the Revamped Reforms Based and Results-Linked Distribution Sector (RDSS) Scheme projects with fresh orders from a prominent Gujarat DISCOM. The scope of work involves modernization and development of distribution infrastructure in three districts of Gujarat's southern region," it .

Larsen & Toubro reports 10% surge in Q4 net profit to Rs 3,987 crore

The company reported a 10 per cent year-on-year rise in revenues of Rs 58,335 crore

L&T Q4 results: PAT rises 10% YoY to Rs 3,987 cr, dividend at Rs 24 a share

The total revenue from operations increased 10.4 per cent YoY to Rs 58,335.15 crore

NDLS latest casualty as budget constraints halt station revamp exercise

L&T quoted more than Rs 8,000 crore for the renovation. However, the government's bid price was around Rs 5,000 crore

L&T Finance Q4 net up 46% to Rs 501 cr on higher loan sales, margin

Retail-focused non-bank lender L&T Finance Holdings on Friday reported a 46 per cent year-on-year jump in consolidated net income to Rs 501 crore for the March 2023 quarter, boosted by better margins as its high-yielding retail book grew at a faster rate. The company said for the full year, the consolidated net income rose 52 per cent to Rs 1,623 crore, as its retail portfolio rose to 75 per cent of the total loan book, up from 51 per cent a year ago, giving it a better margin. The margin expansion was also surprising due to cheaper funds, which declined by 4 bps to 7.46 per cent for the year. At 7.46 per cent, this was the lowest ever yearly weighted average cost of borrowing at 7.46 per cent, down 4 bps compared to FY22, in an environment of rising interest rates, the company said in a statement. The year also saw the highest annual retail disbursements of Rs 42,065 crore, driven by strong growth across all retail segments, which in turn was an accelerated reduction in wholesale

HDFC Securities recommends a BULL SPREAD strategy on Larsen & Toubro

Nandish Shah, Sr. derivatives & technical research analyst, recommends to Buy LARSEN 2300 Call option and simultaneously Sell 2400 Call of the May series.

Stocks to watch: ONGC, IGL, MGL, RIL, L&T, Titan, Adani Group, Delta Corp

Stocks to Watch: Shares of city gas distributors are likely to be in focus today as they react to government's nod for new pricing regime.

L&T is lowest bidder for New Delhi station revamp with Rs 8,740 cr offer

Infra major was in the fray with Shapoorji Pallonji for largest station upgrade project; its submission is over Rs 3,000 crore beyond the Centre's estimate

Stocks to watch: L&T, Coffee Day, Tata Motors, PNC Infratech, Gati, Carysil

Stocks to watch today: From Tata Motors to Coffee Day Enterprises, here are few stocks likely to see action in Tuesday's trade

L&T signs agreement with France's McPhy for electrolyser technology

Under this partnership, McPhy will grant an exclusive license of its pressurised alkaline electrolyser technology to L&T for manufacturing of electrolysers, including future product upgrades

L&T extends gains, up 3% in three days on securing orders worth Rs 9,500 cr

The hydrocarbon business of L&T on Tuesday has secured major (ranging from Rs 5,000 crore to Rs 7,000 crore) contracts for multiple offshore packages from a prestigious overseas client.