Page 10 - L&t

Remuneration for L&T's top three officials up 45-100% in FY19: Report

Remuneration for the company's CEO and MD S N Subrahmanyan rose 52.36%

Valuations under pressure as Street seeks management stability in Mindtree

Management transition process would also weigh on the company's new client additions and overall operations, further denting its near-term growth

L&T's stake in Mindtree crosses 60% as open offer is fully subscribed

According to data available with exchanges, against an offer of 51.3 million shares, L&T has so far received bids for 55.4 million shares

L&T wins more than Rs 7,000 crore order for building power plant in Bihar

The new project will help improve L&T's capacity utilisation, but the company's orders from the private sector continue to remain muted.

L&T set to construct Navi Mumbai airport, likely to finish by mid-2020

The board of City and Industrial Development Corporation (CIDCO), which is carrying out the project, met on Friday to consider the contract

L&T acquires 27,000 shares of Mindtree, raises shareholding to 28.88%

Infrastructure major Larsen and Toubro (L&T) on Thursday acquired about 27,000 shares of Mindtree from open market, raising its shareholding in the IT services firm to 28.88 per cent, according to a regulatory filing. "Larsen and Toubro Ltd has acquired 26,974 equity shares (with a face value of Rs 10 each) of Mindtree Ltd on May 30, 2019," a BSE filing by Mindtree said. After the latest transaction, L&T's shareholding in Mindtree stands at 28.88 per cent. The latest stock purchase was made at Rs 980 apiece. Earlier this month, L&T purchased around 20 per cent stake of V G Siddhartha and Cafe Coffee Day in Mindtree through a block deal for about Rs 3,210 crore, and has since topped that up with share purchases from open market. On Monday, L&T had acquired 2.3 lakh shares of Mindtree, followed by an additional about 4.5 lakh shares over the next two days from the open market. In the week of May 20-24, L&T had purchased shares worth over Rs 316 crore. In all, the ...

L&T acquires 97,815 shares of IT firm Mindtree, raises stake to 28.97 pc

Infrastructure major Larsen and Toubro (L&T) on Wednesday acquired about 98,000 shares of Mindtree from open market, taking its shareholding in the IT services firm to 28.87 per cent, according to a regulatory filing. "Larsen and Toubro Ltd has acquired 97,815 equity shares (with a face value of Rs 10 each) of Mindtree Ltd on May 29, 2019," a BSE filing by Mindtree said. After the latest transaction, L&T's shareholding in Mindtree stands at 28.87 per cent. The latest stock purchase was made at Rs 980 apiece. Earlier this month, L&T purchased around 20 per cent stake of V G Siddhartha and Cafe Coffee Day in Mindtree through a block deal for about Rs 3,210 crore, and has since topped that up with share purchases from open market. On Monday, L&T had acquired 2.3 lakh shares of Mindtree, followed by another 3.56 lakh shares on Tuesday from the open market. In the week of May 20-24, L&T had purchased shares worth over Rs 316 crore. In all, the infrastructure major is ...

L&T March quarter profit rises 8% to Rs 3,418 cr on improved operations

Larsen & Toubro revenues up 10% to Rs 22,934 cr; firm guides for 10-12% order inflow growth in FY20.

L&T net up 8% at Rs 3,418 cr in Q4; dividend of Rs 18 a share announced

Its PAT stood at Rs 3,167.47 crore during the corresponding period a year ago, according to a BSE filing

L&T nears 26% threshold in Mindtree after open-market transaction

L&T on Wednesday bought over 3.75 million shares, which is 2.29 per cent of Mindtree's total share base, at an average price of Rs 979.96 per share

L&T buys shares of Mindtree worth Rs 144 crore through open market

The company is currently in the process of buying an additional 15 per cent stake from the open market

L&T buys Mindtree shares worth Rs 113 cr via open market in takeover bid

L&T is in fray to buy up to 46 per cent more stake in Mindtree.

L&T bags gas export pipeline contract from Kuwait Oil Company, stock gains

Infrastructure major Larsen & Toubro Ltd (L&T) Monday said it has won a gas export pipeline contract from Kuwait Oil Company (KOC). The company said the order falls under "large" category that range between Rs 2,500 crore and Rs 5,000 crore as per its classification of contracts. "The new strategic gas export pipeline contract has been awarded through international competitive bidding on a Lump Sum Turn Key (LSTK) basis," L&T said in a regulatory filing. The company said the new export gas strategic pipeline and its associated facilities will run a span of around 145 km. Shares of the company were trading at Rs 1,410.85 apiece, up 1.94 per cent, from the previous close on BSE.

Larsen & Toubro expects $1 billion revenue from L&T Nxt in 5-7 years

Infrastructure giant Larsen & Toubro is eyeing more than USD 1 billion revenue from its newly launched new-age technology platform L&T Nxt in the next five to seven years, a top company official has said. The L&T Nxt initiative, which was launched last week, will focus on the areas of artificial intelligence, internet of things (IoT), virtual reality, augmented reality, geospatial solutions as well as cybersecurity. The announcement came at a time when L&T has made an offer to buy up to 66 per cent stake in IT firm Mindtree for around Rs 10,800 crore. It has entered into a deal to buy Cafe Coffee Day owner V G Siddhartha's 20.32 per cent share in Mindtree and has also placed an order with brokers to pick up another 15 per cent of the company shares from the open market. "This is more like a start-up ... this is more of an initiative going into outside market. Many of our initiatives have resulted in success stories. We will be looking at beyond a billion dollars in ...

Away from riskier EPC, L&T gives IT services another shot with Mindtree

L&T will create multiple firsts for itself - initiating a hostile takeover being one of them

Our offer for Mindtree a win-win deal for both, says L&T top brass

L&T management led by its CEO & MD SN Subrahmanyan and L&T's CFO and Member of Board R Shankar Raman said the firm was interested in growing its services business where returns are higher

Larsen & Toubro gains 4% as Q3 results beat Street estimates

Shares of Larsen & Toubro (L&T) were up 4 per cent to Rs 1,337 on BSE in the early morning trade in an otherwise weak market after the company reported 37 per cent YoY rise in consolidated net profit.

L&T Construction bags orders worth Rs 1,060 crore in domestic market

Larsen & Toubro (L&T) Thursday said its construction arm has won orders worth Rs 1,060 crore in the domestic market. "The smart world and communication business has secured a major order from the Andhra Pradesh State FiberNet Limited (APSFL) for Bharatnet Phase-II works to establish an IP/MPLS Infrastructure covering the 13 districts of Andhra Pradesh," the engineering and construction major said in a BSE filing. The scope of the work involves creation of a digital infrastructure-including-implementation, end to-end integration and commissioning of Internet Protocol/Multiprotocol Label Switching (IP/MPLS) Network, network operating centre, disaster recovery and cloud-based data centre the company added. L&T said another order has been secured from Pimpri-Chinchwad Smart City for the creation of a city network backbone and implementation of smart elements such as Wi-Fi, smart kiosks and variable message displays across the city. Shares of the company were trading at Rs ...

L&T IT twins: Deal wins, client relationships offer revenue visibility

Large deal wins, client relationships, and strong presence in growth verticals offers revenue visibility

L&T Construction wins orders worth Rs 11.27 bn across 2 business segments

Larsen & Toubro (L&T) Monday said its construction arm has won orders worth Rs 1,127 crore across two of its business segments. In the metallurgical and material handling business, the company bagged contracts worth Rs 755 crore. "An order has been secured from Hindustan Zinc for the construction of an 1.5 MTPA (million tonne per annum) lead-zinc beneficiation plant at R D Mines, Rajasthan...," the company said in a statement. In the buildings and factories business, the firm said an order worth Rs 372 crore has been secured. The factories business unit of the buildings and factories vertical has secured a prestigious order for the brownfield expansion of Viscose Staple Fibre manufacturing facility from Grasim Industries (cellulosic division) at Vilayat, Bharuch, Gujarat, the company said. The scope includes civil, structural, architectural and external development works. The business has earlier executed a green-field project at the same location for Grasim industries, it ...