Page 4 - Larsen & Tourbo L&t

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

Building 'future ready' organisation: SNS in first address as L&T chairman

A M Naik stepped down from his non-executive chairman role for the company on 30 September. Naik announced Subrahmanyan as his successor in 2016 and has been mentoring him since

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.

L&T hits new high in weak market; Analysts see up to 10% further upside

L&T is well-placed to benefit in the long run given strong tender prospects, better order conversion in domestic markets, significant traction in hydrocarbon and renewable energy orders.

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

Stocks to Watch, Sep 12: L&T, RIL, Lupin, Hindalco, TVS Supply, Power Grid

Stocks to watch on Tuesday, September 12, 2023: From L&T raising its share buyback price, Bajaj Finance planning to enter new car loans segment, Power Grid to trade ex-bonus and more.

L&T Construction to build cricket stadium in Varanasi with 30,000 capacity

The B&F Business has secured another order from the Bangladesh Hi-Tech Park Authority to construct hi-tech IT parks across four districts of Bangladesh

Tata Motors, L&T: Short-term trading strategies post Q1 results

Tata Motors is likely to trade with a positive bias, with an upside target of around Rs 660; while Larsen & Toubro may witness some profit-taking in the near-term.

L&T gains 3%; hits new high as board to mull buyback, special dividend

The civil construction major announced its board will meet on July 25 to consider share buyback and special dividend.

L&T and DRDO sign contract to make AIP modules for Indian Navy submarines

Larsen & Toubro said the energy modules will be integrated into the AIP plug that will be retrofitted into the Kalvari submarine

Axis Bank, L&T, Thermax: Chris Wood rejigs India equity portfolio

Chris Wood has added Axis Bank and increased holding in Larsen & Toubro in India long-only portfolio Asia ex-Japan, excludes ICICI Lombard General Insurance.

Larsen & Toubro gains nearly 3% as hydrocarbon business wins mega contract

The engineering and construction company, however, did not provide the exact value of the contract, but specified that as per its classification, a mega project is of over Rs 7,000 crore.

L&T Technology Services announces CoE in Mysore to offer solutions on AWS

L&T Technology Services (LTTS) on Thursday announced a new Centre of Excellence (CoE) in Mysore, Karnataka, that leverages the power of the cloud with Amazon Web Services (AWS). The CoE will allow L&T Technology Services to transition its suite of technologies focused on the future of mobility and reduce time-to-market for end customers. "By leveraging AWS infrastructure, LTTS will provide an opportunity to use AWS to support the automotive domain," according to a release. Backed by its engineering domain expertise in Electric, Autonomous, and Connected Vehicles (EACV), LTTS has been helping original equipment manufacturers (OEMs) to develop next-generation vehicles and aircraft that have tailored solutions focused on safety and security. "The new CoE will leverage LTTS' cross-disciplinary skillsets covering embedded, mechanical, and digital facets of engineering," the release added. LTTS has been actively working with global technology companies like AWS to bring digital ...

Defence Ministry signs contract with L&T for indigenous Modular Bridges

The contract for the procurement of Modular Bridges was signed with L and T on February 8, at an estimated cost of over Rs 2,585 crore

L&T, Siemens surge up to 5% as govt proposes 33% jump in capex outlay

Timken India, Praj Industries, AIA Engineering and ABB were among other individual stocks from the S&P BSE Capital Goods index, up 4 - 5 per cent each.

Larsen & Toubro falls 2% on profit booking post Q3 results

L&T reported a strong order book of Rs 3.72 trillion, suggesting good revenue visibility in coming years.

L&T Technology Services dips 5% on plans to buy SWC biz from parent L&T

LTTS said that it has agreed to acquire the Smart World & Communications business (SWC) of its parent company Larsen & Toubro (L&T) by way of slump sale for Rs 800 crore.

Larsen & Toubro commits Rs 11 cr to support over 100 schools in Tamil Nadu

Engineering and construction conglomerate, Larsen and Toubro has committed Rs 11 crore to support over 100 schools in Tamil Nadu under the government's 'Namma School' initiative, the company said on Tuesday. The funds are aimed at benefitting government schools in Chennai, Kancheepuram, Coimbatore, Salem, Namakkal, Tiruvallur, Sivaganga, Tirunelveli, Chengalpet and Vellore. To be utilised in the current financial year, the funds would help develop and build on a range of on-going activities including Science, Technology, Engineering and Mathematics education through its corporate social responsibility programme - Engineering Futures. Chief Minister M K Stalin formally rolled out the 'Namma School' initiative on December 19. "It is an honour to partner with the Tamil Nadu government to take these activities to fruition and we express our sincere thanks for the opportunity to help the children of government schools in the state and contribute significantly to build a better India," a

L&T Finance Holdings completes sale of L&T AMC for Rs 3,484 crore

L&T Finance Holdings on Friday completed the sale of L&T AMC to HSBC Asset Management, according to a regulatory filing. "...With respect to the proposed sale of 100 per cent of the paid-up share capital of L&T Investment Management Ltd, asset manager of L&T Mutual Fund, to HSBC Asset Management (India) Pvt Ltd, asset manager of HSBC Mutual Fund, ...the said sale transaction has been completed on November 25, 2022," the company said. L&T Investment Management Ltd (LTIML) is a wholly-owned subsidiary of L&T Finance Holdings. L&T Investment Management Ltd will receive an aggregate purchase consideration of INR (Indian currency) equivalent of USD 425 million, subject to adjustments as set out in the definitive documents as consideration for the transaction. The company has received Rs 3,484 crore (equivalent of USD 425 million) as consideration for the sale of LTIML from the purchaser; and also realised surplus cash balance of Rs 764 crore in LTIML, it said.

Stocks to Watch: DreamFolks, RIL, HAL, L&T, Adani, Tata Motors, REC, NTPC

Stocks to Watch on Tuesday: DreamFloks Services to debut on Tuesday; Reliance Industries acquires majority stake in SenseHawk for $32 mn; Delta Corp in F&O ban.