Page 5 - Larsen & Tourbo L&t

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.

L&T Group aims Rs 2.7 trillion revenue by FY26: Chairman A M Naik

Infrastructure major Larsen and Toubro (L&T) Group is targeting Rs 2.7 lakh crore revenue by financial year 2025-26, its Chairman A M Naik said on Thursday. "We are targeting group revenues of Rs 2,70,000 crore...by FY26. The group recorded revenues of Rs 1,56,521 crore during FY 2021-22, registering a growth of 15 per cent," he said at the company's 77th Annual General Meeting (AGM). As of March 31, 2022, the company's order book was at Rs 3,57,595 crore. Currently, the Middle East constitutes 76 per cent of the international order book of Rs 95,227 crore. In 2021-22, profit after tax was Rs 8,572 crore, a year-on-year (y-o-y) growth of 23 per cent. Naik said the company has also launched 'Lakshya 2026' plan which includes exit from non-core businesses, developing innovative business offerings, scaling up digital and e-commerce businesses, focus on Environmental, Social, and Governance (ESG) and shareholder value creation. The Rs 2,70,000-crore revenue target is also a part of ..

L&T beats estimates as Q1 net profit surges 45% YoY to Rs 1,702 crore

But sequentially, it declines 53% amid inflationary pressure & Rs depreciation

L&T Q1FY23 results: How the company performed in the last four quarters

Larsen & Toubro has seen a steady rise in net profits over the previous four quarters

L&T Realty to develop three projects worth Rs 8,000 cr in Mumbai region

L&T Realty on Monday said it has signed agreements to jointly develop projects worth Rs 8,000 crore in Mumbai region as part of its expansion plan. L&T Realty is the real estate development arm of Larsen & Toubro. "The company has entered into a binding agreement to jointly develop projects in South Mumbai, Western Suburbs and Thane worth Rs 8,000 crore, with development potential of 4.4 million square feet," L&T Realty said in a statement. The company did not disclose the name of companies with whom it has signed agreements. L&T Realty said this is a part of the company's larger plan to strengthen its footprint in major metros by adding around 5 million square feet per year over the next five years. Shrikant Joshi, MD & CEO, L&T Realty said,We are committed to expanding our reach and continue looking into new markets." The South Mumbai project will be developed over a land parcel of 5 acres. This residential complex will have 50-storey twin towers with ...

RBI rate hike may see rate sensitive stocks bottom out. Time to buy?

Shares of banks and NBFCs seem to be better placed on the charts, while that of automobile, realty and others need to sustain above the crucial levels.

NGT junks pleas by Afcons Infra, L&T to recall Rs 2 cr green violation fine

The National Green Tribunal(NGT) has dismissed applications filed by Afcons Infrastructure Limited and Larsen & Toubro Limited seeking recall of its earlier order requiring them to pay environmental compensation of Rs 1 crore each.

NGT refuses to recall order directing Afcons and L&T to pay compensation

The National Green Tribunal has refused to recall its order directing Afcons Infrastructure Limited and Larsen & Toubro Limited to pay compensation of Rs 1 crore each for unscientific muck dumping in Arzi nallah at the Pakal Dul Hydroelectric Project in Kishtwar district of Jammu and Kashmir. A bench headed by NGT chairperson Justice A K Goel said once the applicants caused damage and violated environmental norms, they cannot escape liability. "Subsequent clearance of waste cannot be a ground for waiving the compensation for damage already caused and violation already committed. Even though for such violation, on 'polluter pays' principle, deterrent compensation is liable to be paid having regard to the financial capacity of the polluter, the tribunal has adopted an extremely conservative approach of requiring compensation of Rs 1 crore each only. "The application now filed is utterly without any merit. We are inclined to award heavy costs for such an uncalled-for application but .

Zetwerk bags Rs 126 crore order from L&T for bullet train project

Contract manufacturing startup Zetwerk Manufacturing Businesses has bagged an order worth Rs 126.55 crore from L&T for the Mumbai-Ahmedabad (MAHSR) bullet train project, the company said on Thursday. The startup will supply 10,000 metric tonne (MT) fabricated girders to support the load-bearing capacity of the steel bridges that Larsen & Toubro is fabricating for laying the bullet train rail corridor. "Zetwerk Manufacturing Businesses has been awarded a Letter of Intent (LoI) for an order worth Rs 126.55 crore by L&T Ltd for the Mumbai-Ahmedabad (MAHSR) Bullet Train project," the start-up said in a statement. As per the LoI, the MAHSR Bullet Train project is being executed by the National High-Speed Rail Corporation Ltd. "Zetwerk is proud to associate with the Bullet Train Project and will strive to deliver its commitment on time in full. India is on the cusp of a major manufacturing revolution and we are honoured to be able to play an active role in bolstering these ...

Dilip Buildcon, IRB, Simplex Infra: Infra-related stocks can gain up to 10%

Larsen & Toubro and Engineers India need to hold above the key levels for further upside.

5-day rally halts! L&T Finance down 7% on profit-taking post L&T stake hike

On Wednesday, the stock ended 18 per cent higher after L&T bought 41.49 million equity shares of L&T Finance Holdings for Rs 348 crore.

Larsen & Toubro slips 2% post December quarter results

The company bagged orders worth Rs 50,359 crore during Q3, down 31% YoY, as the previous year had the benefit of the company securing its biggest ever EPC contract for Mumbai Ahmedabad High Speed Rail

Stocks to Watch: L&T, Vedanta, NTPC, MCX, Dr.Reddy's, CBI, AU SFB, Textiles

BPCL, DLF, Dwarikesh Sugar, Exide, GIC Housing, HDIL, HPCL, IOC, Jindal Saw, KEC Intl, KPIT Tech, Krsnaa Diagnostics, SCI, Sun Pharma, Suven Life, Tata Motors and UCO Bank in focus ahead of Q3 results

Bharti Airtel, L&T, M&M among top trading bets ahead of Budget 2022

Major stocks have broken out on upside, any trigger in Budget 2022 could see sharp up move

Stocks to Watch: Delta Corp, L&T, HCC, Anupam Rasayan, Voda Idea, IT shares

Delta Corp will be in focus ahead of its Q3 earnings, the stock is also in F&O ban. HCC may come under pressure owing to debt default.

L&T to design, construct a part of Mumbai-Ahmedabad bullet train project

Larsen & Toubro (L&T) on Monday said its construction arm has bagged a significant order from National High Speed Rail Corporation Ltd (NHSRCL). The major scope of work for the project comprises design and construction of civil and building works for a double-line high speed railway of a length of 8.198 km, L&T said in a statement. "The construction arm of Larsen & Toubro has secured an order from the esteemed National High Speed Rail Corporation Limited (NHSRCL), to design and construct Package No. MAHSR-C-5 of the Mumbai-Ahmedabad High Speed Rail Project, the first high speed rail corridor being implemented in the country," the statement said. The scope of the work also includes the major station of Vadodara, confirmation car base, viaduct and bridges, crossing bridges, architectural and other associated works. The project alignment passes through Vadodara, Gujarat and the project is scheduled to be completed within 49 months. L&T is already executing two other .

L&T Construction bags large contracts for water, effluent treatment biz

L&T Construction's water and effluent treatment business has secured a slew of orders from various prestigious clients. The Department of Water Supply and Sanitation, Punjab, has awarded two EPC (engineering, procurement and construction) orders for the bulk supply of treated water to 10 lakh people in the Fazilka and Ferozepur districts of the state on a design-build-operate-transfer (DBOT) basis, Larsen & Toubro (L&T) said in a filing to the BSE. "The aggregate scope of work comprises design and construction of raw water intake systems, storage & sedimentation tanks, water treatment plants of a total capacity of 114 MLD (million litres per day), clear water reservoirs with pumphouse, supply & laying of transmission pipelines, and associated electromechanical & Instrumentation works," it said. The Department of Water Resources, Government of Odisha, has given a repeat EPC order to execute the Under Ground Pipeline Irrigation System for the Rengali Right ...

L&T losing to ill-equipped cos in India; isn't it a pity: A M Naik

Engineering major lost large domestic orders as technical-deficient rivals won tenders