Page 3 - Larsen Toubro

LTIMindtree appoints Venugopal Lambu as CEO with immediate effect

Lambu is a global executive leader with more than 30 years of experience in driving strategies and hyper-growth in the technology and services industry

DEE Development Engineers expects revenue to triple to Rs 2,400-cr: CMD

DEE Development Engineers, a piping solutions provider, expects its revenue to triple to around Rs 2,400 crore in the next three to five years as it embarks on its next phase of growth, the company's Chairman and Managing Director (CMD) Krishan Lalit Bansal said. The company, which reported a revenue of Rs 785 crore in 2023-24, is expecting higher revenue in the current financial year, Bansal said during an interaction here. DEE Development Engineers has launched its new facility in Anjar with an investment of Rs 250 crore. The facility, with an initial capacity of 12,000 tonnes per annum, is expected to be ramped to 27,000 tonnes per annum by September this year. The company also plans to come up with a Rs 90-crore seamless pipe manufacturing facility in Anjar by December this year, Bansal added. This unit will have an annual production capacity of 7,000 metric tonnes. "We are putting up a specialised forged seamless pipe plant also. The pipes produced out of that shall primarily

Hard work a personal choice, no one can demand long hours: Narayana Murthy

These are issues one can introspect on, come to a conclusion, and do whatever they want, said Infosys co-founder Narayana Murthy about work-life balance

Maintaining growth momentum key for more gains in L&T Technology Services

Management expects tech and sustainability to continue the growth momentum in the near-to-medium term, while mobility is to remain muted in Q4 but should rebound by FY26

L&T bags significant orders worth Rs 1K-25K cr in Q3FY25 in India, overseas

Infrastructure major Larsen & Toubro (L&T) on Wednesday said its heavy engineering arm has bagged significant orders in the third quarter in the domestic market and abroad. Orders in the range of Rs 1,000 crore to Rs 2,500 crore range are classified as 'significant' by the company. In the overseas market, it secured an order for LNG equipment for a project in the USA, L&T said in a filing to BSE. The business also secured a breakthrough order for a loop reactor in a Propane Dehydrogenation (PDH) Polypropylene (PP) Plant in Turkey. Further, the business has secured a repeat order from a leading oil and gas customer in Saudi Arabia for a Fluid Catalytic Cracking Unit revamp project. The business has then bagged an order from a client in Kuwait. This is for the supply of critical components for hydrocracker reactors and high-pressure heat exchangers. In the domestic market, the company has bagged projects for three urea reactors from Southern Petrochemical Industries ...

L&T eyes 20% growth in construction, mining machinery biz in FY26

Infrastructure major Larsen & Toubro (L&T) expects its construction and mining machinery business to grow at least 20 per cent in the next fiscal year with the company planning to double sales in the next five years. In an interview to PTI, Arvind K Garg, Senior Vice President and head of L&T's Construction and Mining Machinery business, said, "If you ask me what the plan for the coming fiscal year is, definitely our construction and mining machinery business will grow at least 20 per cent. And, "as we have to meet the target of growing or doubling our sales in the next five years, along with profitability, we will have to invest in our service capabilities. This financial year, we also launched a mini excavator, the Komatsu PC35, which will help fuel growth," Garg said. Larsen & Toubro and Komatsu Ltd entered into a joint venture in 1998 to manufacture construction equipment and hydraulic components in India. From 1998 to 2013, the joint venture company was ...

L&T secures major defence order for K9 Vajra-T artillery platforms

Infrastructure major Larsen & Toubro (L&T) on Monday said it has bagged a major order from the Defence Ministry for the supply of K9 Vajra-T Artillery Platforms to the Indian Army. According to the company's project classification, the 'major' order values between Rs 5,000 crore-10,000 crore. The K9 Vajra-T is a 155 mm, 52-caliber tracked self-propelled artillery platform, adapted from the world's leading South Korean self-propelled howitzer K9 Thunder. Co-developed by L&T and Hanwha Aerospace, it has been customised to suit the requirements of the Indian Army for operations in varied terrains, including deserts, plains and high-altitude regions. In 2017, the company won the order for the first batch of 100 K9 Vajra-T platforms through a global competitive bidding and after successful field evaluation. The company delivered the Vajra Platforms ahead of schedule. "Like the first batch, the second batch of the K9 Vajra-T too will be manufactured at our Armoured Systems ...

L&T's data centre biz onboards first major customer in Tamil Nadu

Infrastructure major Larsen and Toubro (L&T) on Thursday said its data centre business L&T-Cloudfiniti has on boarded the first major customer at its hyperscale data centre in Sriperumbudur near Chennai. The centre has a built-in capacity of 30 MW, of which 12 MW colocation-ready capacity is live across two floors, Larsen and Toubro (L&T) said in a stock exchange filing. The company's client, a leading cloud service provider, has rented as much as 6 MW IT Load capacity, consisting of high-density racks spread over an entire floor, and a bulk bandwidth, the filing said. The tenure of the contract is 10 years. "This deal marks the beginning of many such collaborations and acts a testament to our commitment to delivering world-class colocation and cloud services to businesses across the spectrum. In the days to come, we are confident of redefining India's data centre landscape with our fast scalable and reliable solutions," L&T-Cloudfiniti Chief Executive Seema Ambastha ..

Stocks to Watch, Dec 5, 2024: Indus Towers, L&T, Hero MotoCorp, IGL

Stocks to Watch, Dec 5, 2024: Here is a list of stocks that will be in the limelight today

PM Internship Scheme: Launch delayed; applicants awaiting revised timeline

The pilot project of the PM Internship Scheme received over 650,000 applications for 127,000 opportunities offered by 280 Indian companies participating in the scheme

L&T Technology Services acquires US-based Intelliswift for $110 million

The acquisition, according to the firm, will deepen its offerings across software product development, platform engineering, digital integration, data, and artificial intelligence (AI)

L&T to acquire 21% stake in E2E Networks in two-part Rs 1,406 crore deal

The strategic investment helps expand the company's Cloud service offering as part of the data centre business

L&T Q2 FY25 results: Net profit increases 5.4% to Rs 3,395 crore

Maintains guidance on order inflow and revenue generation for full-year

L&T Q2 results preview: Profit may rise up to 19% YoY; margins could shrink

L&T Q2 results preview: The engineering, procurement and construction (EPC) major's core revenue is expected to have grown in Q2FY25 as its domestic execution normalises

L&T Q2 results preview: Profit may rise up to 19% YoY; margins could shrink

L&T Q2 results preview: The engineering, procurement and construction (EPC) major's core revenue is expected to have grown in Q2FY25 as its domestic execution normalises

L&T locks key contract for world's largest nuclear fusion project in France

While the exact worth of the deal was not disclosed but the order was marked as 'significant', which the L&T uses to describe orders valued between Rs 1,000 crore and Rs 2,500 crore

Ajit Mishra of Religare Broking suggests buying this stock on October 24

Markets remained volatile and ended slightly lower, taking a breather after Tuesday's decline

Expanding bond market to ease capital needs key to India's $5 trn goal

Nothing illustrates that challenge better than the Rs 47 trillion ($559 billion) corporate bond market. It's one of the world's smallest as a percentage of gross domestic product, at just 16 per cent

Stocks To Watch: RIL, HCLTech, L&T, Adani Power, Atul Auto, SpiceJet

Stock Market Today: RIL reported a 4.8 per cent year-on-year decline in consolidated profit for Q2 FY25, totaling Rs 16,563 crore, and missing analyst expectations.

Order pipeline, margin gains positive for Larsen & Toubro's stock

The brokerage believes that the order book would grow at 12 per cent CAGR over FY24-27