Page 9 - L&t

L&T Finance raises Rs 15.03 bn in early closure of public issue of bonds

L&T Finance Ltd on Tuesday announced early closure of its public issue of secured non-convertible debentures (NCDs), garnering subscription of Rs 1,503.35 crore. L&T Finance, a wholly-owned subsidiary of L&T Finance Holdings, said tranche-I issue, which opened on December 16, has been oversubscribed and has received subscription amounting to Rs 1,503.35 crore. The subscription is 3.01 times of the base issue size of Rs 500 crore. High net worth individual (HNI) and retail categories are oversubscribed by 4.18 times and 3.04 times, respectively, of the base issue. These NCDs have been rated CRISIL AAA (stable), CARE AAA (stable) and IND AAA (stable) by Crisil Ltd, Care and India Ratings, respectively. "This NCD issue is a step in the company's overall strategic intent of building a retail liability franchise," L&T Finance said.

Not banking only on brand value, says L&T Realty CEO Shrikant Joshi

Firm is 'very cautious' on partnering stressed realty players as there is very high risk

L&T's construction arm bags contracts worth Rs 2,500 crore from clients

The company said its buildings and factories business has received an order for execution of mechanical works for a cement plant at Kurnool.

Top 10 biz headlines: Telcos pay spectrum dues, Vivo-Ogilvy spat, and more

From telcos paying their dues to the government to Vivo-Ogilvy spat, here are the top 10 business headlines on Wednesday

L&T builds coast guard ship 'Varaha', its 51st offshore patrol vessel

During the coming weeks, Larsen and Toubro said the fifth OPV Varad which was launched was getting ready for taking up sea trials

L&T bags contract worth up to Rs 2,500 in Maharashtra and Odisha

Engineering and construction major Larsen & Toubro (L&T) on Thursday said it has procured 'significant' orders in Maharashtra and Odisha. According to the company's project classification, the total value of the 'significant' contract falls in the range of Rs 1,000 crore-Rs 2,500 crore. "The water & effluent treatment business of L&T Construction has secured orders from prestigious clients from two states in India," the company said in a statement. It said an EPC (engineering, procurement and construction) order has been bagged for the Gunjawani project piped distribution network, including the Narayanpur Lift Irrigation Scheme from Maharashtra Krishna Valley Development Corporation-WRD, Pune. The scope includes survey, investigation, design, procurement and construction, it said and added the business has also been mandated to prepare all the relevant documents to form a water user association for the command area, to build the capacity of farmers to attain the ...

Despite several headwinds, analysts are turning positive on L&T stock

The company has been winning large-ticket orders lately, though the orders bagged, so far, are less than the year-ago level

L&T's construction arm bags contract for Navi Mumbai International Airport

Infrastructure major L&T on Tuesday said its construction arm has bagged the contract for construction of the Navi Mumbai International Airport. The company did not provide value of the contracts but said the orders fall under "major" category which ranges between Rs 5,000 crore and Rs 7,000 crore as per its classification of contracts. "The transportation infrastructure and buildings and factories businesses of L&T Construction have secured a prestigious project from the Navi Mumbai International Airport Private Ltd (NMIAPL) for the engineering, procurement and construction of the greenfield Navi Mumbai International Airport at Navi Mumbai," L&T said in a regulatory filing. The passenger terminal building is being developed to initially handle a capacity of 10 MPA (million passengers per annum). The project will subsequently be enhanced to handle 20 MPA, the company added. Shares of the company were trading at Rs 1,314 apiece, down 1.06 per cent, from their previous close

L&T JV bags order for THDC India's super thermal power project in UP

This is the second power engineering, procurement and construction project that L&T has won in the current financial year

L&T bags 'significant' order from NTPC to set up FGD system at MP plant

Infrastructure major Larsen & Toubro (L&T) on Monday said its power business has bagged a "significant" order from NTPC to set up flue gas desulphurisation system at Vindhyachal Super Thermal Power Station in Madhya Pradesh. L&T has received engineering, procurement and construction (EPC) order to set up flue-gas desulphurisation (FGD) system at Vindhyachal Super Thermal Power Station at stage-I & II (6x210 mega watt (MW) & 2x500 MW, the company said in a BSE filing. This is in continuation to the order received for Stage III 0 IV (2x500 MW 0 2x500 MW) in September last year, it added. The company did not provide value of the contracts but said the orders fall under "significant" category which ranges between Rs 1,000 crore and Rs 2,500 crore as per its classification of contracts. L&T said installation of FGD systems in existing and upcoming thermal power plants has been made mandatory by the Ministry of Environment, Forest and Climate Change (MoEFCC), ...

L&T consortium bags offshore jacket installation project from Saudi Aramco

Larsen & Toubro on Thursday said a consortium of its arm LTHE, and EMAS AMC PTE Ltd has been awarded a project by Saudi Aramco for offshore jackets. The project is for installing 28 offshore jackets in Zuluf, Marjan, Sfaniya and Ribyan offshore fields of Saudi Arabia, as per a BSE filing by L&T. "Consortium of L&T Hydrocarbon Engineering Ltd (LTHE) and EMAS AMC PTE Ltd (a subsea7 company) has been awarded a project by Saudi Aramco," it said. LTHE is a subsidiary of L&T and is based in Mumbai. The award demonstrates Saudi Aramco's trust on LTHE's capability to deliver to a challenging schedule with excellent safety and quality performance, it said. LTHE's fabrication facilities in the Middle East and India are fully equipped to execute these challenging projects, the company added. subsea7 is a Luxembourg-based offshore projects delivering company.

Will work to re-energise growth, says new Mindtree CEO Debashis Chatterjee

Chatterjee joins Mindtree from Cognizant, where he was leading the digital systems and technology practice for Teaneck

L&T puts up decent results in June quarter amid weak macro environment

While order inflow was healthy led by domestic projects, improved execution in select private sector and power segment supported growth

L&T Q1 preview: Analysts see healthy revenue growth on strong order execution

Analysts at Centrum Broking projects L&T's revenue to grow 15.4 per cent year-on-year (YoY) to Rs 32,636.6 crore as against Rs 28,283.5 crore, registered in the year-ago period.

L&T's power business bags major orders for 3 Damodar Valley Corp plants

Infrastructure company Larsen & Toubro Friday said its power business has bagged "significant" orders from Damodar Valley Corporation (DVC) to set up flue gas desulphurisation (FGD) systems in three of its power plants. DVC's three plants where FGD systems will be set up are Durgapur Steel Thermal Power Station (2x500 MW), Mejia Thermal Power Station (2x500 MW) and Raghunathpur Thermal Power Station (2x600 MW) - in West Bengal, Larsen & Toubro (L&T) said in a regulatory filing. The company did not provide value of the engineering, procurement and construction (EPC) contracts, but said the orders fall under "significant" category which ranges between Rs 1,000 crore and Rs 2,500 crore as per its classification of contracts. L&T said India's power ministry has set December 2022 as the deadline for existing thermal power plants to comply with revised emission norms. Installation of FGD systems in existing and upcoming thermal power plants has been made mandatory by ...

L&T's A M Naik appointed non-executive chairman of Mindtree

After the exit of its co-founders, the share price of the IT firm lost about a quarter of its value in the last fortnight

Mindtree employees worry over work culture shift as L&T takes charge

In the first ever hostile takeover in the domestic IT industry, L&T has acquired a controlling stake of around 60 per cent in Mindtree

'Mindtree is independent': L&T tells shareholders after shares plunge

Mindtree shares have lost close to a quarter of their value in the last two trading sessions at stock exchanges

Larsen and Toubro receives promoter's tag in Mindtree with 60% stake

Mindtree is scheduled to hold its next annual general meeting (AGM) on July 16

L&T pays Mindtree shareholders who tendered shares in open offer

Construction major Larsen & Toubro, which holds over 60 per cent stake in Mindtree, said Tuesday it has made payments to shareholders who tendered their shares successfully in the recently-concluded open offer. "...we wish to inform you that Larsen & Toubro has today made payment of consideration to the shareholders of the target company (Mindtree) who have tendered their shares in the open offer, in respect of the equity shares which have been accepted in the open offer and returned the equity shares which have not been accepted in the open offer to the demat accounts of the respective shareholders," L&T said in a regulatory filing. The infrastructure major's open offer - at Rs 980 a share - began on June 17 and concluded on June 28. "Consequent to the completion of the open offer, the shareholding of the company (L&T) in the target company, including the shares acquired under the Share Purchase Agreement and the Purchase Order, stands at 60.06 per cent of the total ..