Page 18 - Larsen & Toubro

L&T's board approves Rs 90-billion share buyback proposal at Rs 1500 apiece

For L&T, which has divested from a couple of non-core assets in the past few quarters, a buyback will translate into cash outflows

With 36% growth in Q1 profit, L&T takes a strong start to fiscal year 2019

Rising project order flow, improving execution continues to boost topline

L&T Construction gets Rs 13.87-billion contract in Andhra Pradesh

Engineering major Larsen & Toubro (L&T) today said its construction arm has bagged an order worth Rs 1,387 crore for construction of a bridge across the Krishna river in Andhra Pradesh. "The construction arm of L&T will construct a ...bridge across the river Krishna at Amaravati, Andhra Pradesh. The bridge will connect Pavitrasangamam in Vijayawada and N10 road in Amaravati," the company said in a BSE filing. The Rs 1,387 crore project has been awarded by the Amaravati Development Corporation Ltd (ADCL). L&T has also been entrusted with the operation and maintenance of the bridge for five years, it added. Shares of the company were trading at Rs 1,356.95 apiece, up 1.07 per cent from the previous close on the BSE.

Schneider deal done, L&T says no more non-core divestment on the cards

Analysts remain hopeful of smaller deals, say firm may also be looking to monetise core businesses

Analysts see Rs 140-billion L&T-Schneider deal in positive light

Brokerages, which had estimated the electrical and automation business to fetch Rs 140-160 billion, say valuations are fair

L&T construction to build Dwarka expressway; bags orders worth Rs 26 bn

Larsen & Toubro (L&T) today said its construction arm has won orders worth Rs 2,597 crore across business segments. L&T, in a BSE filing, said its transportation infrastructure business has secured an order worth Rs 1,047 crore. "An order has been received from the National Highways Authority of India (NHAI) for the construction of the 8.7 Km long Dwarka Expressway in Haryana in EPC mode," it added. L&T Construction's water and effluent treatment business has secured an order worth Rs 949 crore while its buildings and factories business has won an order worth Rs 601 crore. Shares of the company were trading at Rs 1,301.95 apiece, up 0.91 per cent, from the previous close on the BSE.

L&T construction arm bags orders worth Rs 15.93 bn across business segments

An EPC order has been secured from Udaipur Smart City Limited

L&T Construction bags Rs 16.8 bn orders from Pune Municipal Corporation

Industrial conglomerate Larsen and Toubro (L&T) on Monday said its construction arm has bagged orders worth Rs 1,680 crore from the Pune Municipal Corporation to revamp the water supply system in the city.

Larsen & Toubro's construction arm bags Rs 13.1-bn worth orders; shares dip

Engineering giant Larsen & Toubro (L&T) today said its construction arm has won contracts worth Rs 1,310 crore in various business segments. "The construction arm of L&T has won orders worth Rs 1,310 Crore across various business segments," the company said in a statement. It said its Water & Effluent Treatment Business has won orders worth Rs 631 crore including a contract from Bihar Urban Infrastructure Development Corporation Ltd to lay a new sewerage network and construct pumping stations at Saidpur. The Buildings & Factories Business has won an order worth Rs 340 crore, it said. "The business has won a prestigious order to construct an IT Park at Chennai from a leading developer. The proposed development will offer two towers of ten floors each and is required to be completed within stringent timelines. L&T's scope includes construction of the entire civil structure, architecture works, faade and MEP works," the statement said. Besides, its ...

L&T's construction arm bags orders worth Rs 3,572 cr

Larsen & Toubro (L&T) today said its construction arm has won orders worth Rs 3,572 crore across business segments. "The construction arm of L&T has won orders worth Rs 3,572 crore across various business segments," the engineering and construction major said in a BSE filing. L&T said transportation and infrastructure business has bagged order an worth Rs 1,358 crore from Bangalore International Airport Ltd. Its metallurgical and material handling business received orders worth Rs 1,264 crore in the domestic market. While the company's power transmission and distribution business and building and factories business won orders worth Rs 595 crore and Rs 355 crore, respectively. Shares of the company were trading 0.87 per cent higher at Rs 1,226.90 apiece in the morning trade on BSE today.

L&T set to be first Indian firm to build metro outside India

The company is likely to complete the Rs 3,400-cr light rail-based urban transit system in Mauritius

L&T Q2 net up 32%

The firm maintains full-year revenue growth guidance at 12%; trims order inflow guidance to marginal y-o-y growth for FY18

L&T: Recent orders add strength

Steady pick-up in domestic order execution and stable West Asia business provide confidence

L&T says won Tipper trucks contract through bid

Larsen & Toubro (L&T) today said it supplied Scania tipper trucks to Coal India arm BCCL after winning contract in 2013 and would respond to CBI, which filed a case against the company, if approached. The CBI yesterday had filed a case against former CMD of Bharat Coking Coal Limited (BCCL) T K Lahiry and other former senior officers of the company in the purchase scam of 100 tippers in 2013 at an "exorbitant cost" which allegedly resulted in wrongful gains of Rs 97 crore to Larsen and Toubro. "L&T has become aware of this matter through media reports. In March 2013, as exclusive distributors of Scania Tipper Tucks in India, L&T had participated in an open tender process on behalf of Scania Commercial Vehicles India Limited for supply of 100 units of 35 Tonne type Tipper trucks to BCCL," the engineering conglomerate said in reply to the query in this regard. It said L&T's bid was found to be the most competitive in price (L1) among a total of three bids, based ..

L&T gains 5% on hopes of winning defence contracts worth Rs 40,000 crore

The stock gained as much as 4.83% to Rs 1,181 in intraday trade on the BSE

L&T's proposal to expand Powai project gets green nod

Larsen & Toubro, the country's largest engineering firm, has received green nod for expansion of its Powai residential and IT towers project in Mumbai that will entail an investment of Rs 1,102 crore. Initially, the company had received the environment clearance (EC) for construction of three wings of IT towers in a total area of 1,49,618.70 square meter. The pre-construction work has started. Now, it has proposed to expand the project with construction of six residential towers, two IT towers, a convenience shopping centre and school in a total area of 4,29,506.75 square meter. The environment ministry has given the go-ahead for expansion of 'the L&T (West) Mixed Use Project' in Powai after taking into account the view of a green panel, the ministry said in the EC letter issued to the company. The clearance is subject to the compliance of certain conditions, the ministry said. The cost of the expansion project is estimated to be Rs 1,102 crore and will provide jobs to

L&T chairman casts doubt on India's economic revival

Questions govt's pledge to build up to 30 kilometres of roads a day when less than a dozen highway projects had been put up for tender

SN Subrahmanyan to replace A M Naik as CEO & MD of Larsen Toubro

SN Subrahmanyan will take charge as the CEO and Managing Director of Larsen & Toubro from tomorrow, which will also mark the end of nearly two-decade long tenure of A M Naik at the helm. The appointment was approved by the company board on April 7 and marks a major change in leadership positions at L&T where Naik has served for over 52 years, including as its head for over 17 years, the company said in a statement. Subrahmanyan is currently the deputy managing director and president of the company. The board had also requested Naik, Group Executive Chairman, to provide guidance and mentorship to the company's leadership subsequent to his current term. He will assume the new role of non-executive chairman for a period of three years beginning October 1, immediately upon his retirement as Executive Chairman on September 30. Naik said Subrahmanyan has a great work ethic and business acumen to take L&T to greater heights in the future. "I have full confidence that under .

Govt sells 2.5% stake in L&T, raises Rs 4,000 cr

SBI, LIC, New India Assurance were among the buyers for the SUUTI stake that stood at 6.53%

L&T hits 21-month high post Q4 results, 1:2 bonus share plan

The stock hit high of Rs 1,834, up 2.6% on BSE, its highest level since August 10, 2015.