Page 7 - Larsen & Toubro

Reliance, Jindal among six firms to get incentives for making electrolysers

Reliance Electrolyser Manufacturing, Jindal India and John Cockerill Greenko Hydrogen Solutions are among the six firms who have emerged as successful bidders for getting incentives to set up facilities to manufacture electrolysers, a critical component required for green hydrogen production. The bids came in response to a tender by Solar Energy Corporation of India (SECI) inviting players for setting up 1.5GW manufacturing capacity for electrolysers, as per a SECI statement. Bids for electrolysers manufacturing were invited on July 7 last year. A SECI statement issued on January 12, 2024, showed that Reliance Electrolyser Manufacturing Ltd has bagged incentives of Rs 444 crore for setting up of 300MW of manufacturing capacities for electrolysers. Similarly, John Cockerill Greenko Hydrogen Solutions Private Ltd and Jindal India Ltd have also bagged incentives of Rs 444 crore each for setting up 300 MW manufacturing capacity of electrolysers each. Ohmium Operations Pvt Ltd has bagg

Future strategy is all about sustaining this growth: L&T Finance CEO

As far as retail growth is concerned, you would see the target was 25% growth, and we have consistently achieved more than 30% growth, he said

L&T wins upward of Rs 5,000 cr order for Saudi Arabia's Amaala project

AMAALA is an ultra-luxury destination situated in the Prince Mohammed bin Salman Natural Reserve along Saudi Arabia's northwestern coast

L&T hits fresh high on EPC order win of Rs 5K-10K crore; zooms 70% in 2023

L&T classifies a 'major' order as the one worth anywhere between Rs 5,000-Rs 10,000 crore

Uttarakhand tunnel incident spotlights safety in existing, future projects

Engineering companies expect the incident to spotlight safety as a major aspect in future tunnel projects in India

With over Rs 10K cr win, L&T races to another robust quarter for orders

As of Monday, L&T has reported new order wins for FY24, just shy of the Rs 2 trillion mark by a few hundred crore

L&T Tech, NVIDIA to unveil Gen AI & advanced software for medical devices

This collaboration provides a complete solution for customers looking to transition to a software-defined business model via real-time AI applications

L&T to divest 100% stake in subsidiary LTIEL to focus on core businesses

L&T on Friday said it will sell its 100 per cent stake in subsidiary L&T Infrastructure Engineering Ltd (LTIEL) to a French entity. This transaction aligns with the company's commitment to focus on its core businesses and assets. "L&T...has announced the divestment of its 100 per cent stake in L&T Infrastructure Engineering Ltd ," the company said in a statement. LTIEL is a provider of standalone engineering consultancy services for the infrastructure sector. The stake will be acquired by STUP Consultants Pvt Ltd, a subsidiary of Assystem SA of France. The transaction, which is subject to meeting certain conditions, is likely to be completed before January 15, next year. "This is a step to exit the non-core standalone consulting engineering practice and focus energy and attention on our core businesses. It not only benefits L&T but also allows LTIEL and its employees greater avenues of growth," D K Sen, Advisor to Chairman and Managing Director, L&T said.

RBI imposes Rs 2.50-cr penalty on L&T Finance for non-compliance of norms

The statutory inspection of the company was conducted by the RBI with reference to its financial position as of March 31, 2021, and March 31, 2022

L&T Tech trims FY revenue growth guidance; Q2 profit up 4.7% to Rs 315 cr

The unit of engineering conglomerate Larsen and Toubro now expects revenue in dollars for this fiscal year ending March to grow 17.5%-18.5% in constant currency

L&T's hydrocarbon arm bags order for gas compression plants in Middle East

The scope of work involves engineering, procurement and construction of gas compression plants

L&T's hydrocarbon arm bags order for gas compression plants in Middle East

The scope of work involves engineering, procurement and construction of gas compression plants

Results preview: Profit of capital goods cos may stay the course in Q2

Margin improvement anticipated in Q2FY24 results amid lower costs

L&T's Power Business wins EPC orders West Bengal Power Development Corp

The Power Transmission & Distribution Business of Larsen & Toubro will set up wet Flue Gas Desulphurization (FGD) systems for its thermal power plant at Sagardighi, West Bengal

L&T's middle east order book swells with Saudi Arabia's construction boom

As of June, L&T reported an outstanding order book of Rs 4.12 trillion, with Rs 1 trillion of these orders originating from the Middle East

India's 'intrapreneur'

A M Naik created an exemplar of professional management

A M Naik, 81 steps down as chairman of L&T; S N Subrahmanyan takes charge

A M Naik stepped down as the chairman of L&T Group on Saturday. He handed over the reins of the USD 23 billion conglomerate to S N Subrahmanyan at an event in Mumbai. Naik, 81, will now be the chairman of the employees trust. He will focus on increasing many philanthropic initiatives that he has been undertaking for the past few years, according to a statement. India Post unveiled a postage stamp on Naik on the occasion. Naik's attention going forward will be on his philanthropic initiatives, including the Naik Charitable Trust which focuses on education and skill-building of the underprivileged, and the Nirali Memorial Medical Trust dedicated to facilitating super speciality healthcare at subsidised cost. Naik joined the company in 1965 as a junior engineer and went on to become its Group Chairman. In the nearly three decades in leadership roles, Naik helped the company grow to its present size and stature, the statement said.

Change of guard at L&T: Size, scale key challenges for S N Subrahmanyan

Cut to 2019, L&T was on the buyer side of the table of a hostile takeover of tech company Mindtree

BAE Systems partners L&T to build BvS10 all-terrain vehicle in India

The BvS10 will participate in Indian Army trials starting in September 2023

LTTS to add 2000 employees to cater to rising software demand in vehicles

We focused on electric autonomous connected vehicles during the pandemic and within this, EV was the first area of focus where we invested in a set of labs, CEO of LTTS Amit Chadha added