Page 10 - Larsen & Toubro

L&T says won Tipper trucks contract through bid

Larsen & Toubro (L&T) today said it supplied Scania tipper trucks to Coal India arm BCCL after winning contract in 2013 and would respond to CBI, which filed a case against the company, if approached. The CBI yesterday had filed a case against former CMD of Bharat Coking Coal Limited (BCCL) T K Lahiry and other former senior officers of the company in the purchase scam of 100 tippers in 2013 at an "exorbitant cost" which allegedly resulted in wrongful gains of Rs 97 crore to Larsen and Toubro. "L&T has become aware of this matter through media reports. In March 2013, as exclusive distributors of Scania Tipper Tucks in India, L&T had participated in an open tender process on behalf of Scania Commercial Vehicles India Limited for supply of 100 units of 35 Tonne type Tipper trucks to BCCL," the engineering conglomerate said in reply to the query in this regard. It said L&T's bid was found to be the most competitive in price (L1) among a total of three bids, based ..

L&T gains 5% on hopes of winning defence contracts worth Rs 40,000 crore

The stock gained as much as 4.83% to Rs 1,181 in intraday trade on the BSE

L&T's proposal to expand Powai project gets green nod

Larsen & Toubro, the country's largest engineering firm, has received green nod for expansion of its Powai residential and IT towers project in Mumbai that will entail an investment of Rs 1,102 crore. Initially, the company had received the environment clearance (EC) for construction of three wings of IT towers in a total area of 1,49,618.70 square meter. The pre-construction work has started. Now, it has proposed to expand the project with construction of six residential towers, two IT towers, a convenience shopping centre and school in a total area of 4,29,506.75 square meter. The environment ministry has given the go-ahead for expansion of 'the L&T (West) Mixed Use Project' in Powai after taking into account the view of a green panel, the ministry said in the EC letter issued to the company. The clearance is subject to the compliance of certain conditions, the ministry said. The cost of the expansion project is estimated to be Rs 1,102 crore and will provide jobs to

L&T chairman casts doubt on India's economic revival

Questions govt's pledge to build up to 30 kilometres of roads a day when less than a dozen highway projects had been put up for tender

SN Subrahmanyan to replace A M Naik as CEO & MD of Larsen Toubro

SN Subrahmanyan will take charge as the CEO and Managing Director of Larsen & Toubro from tomorrow, which will also mark the end of nearly two-decade long tenure of A M Naik at the helm. The appointment was approved by the company board on April 7 and marks a major change in leadership positions at L&T where Naik has served for over 52 years, including as its head for over 17 years, the company said in a statement. Subrahmanyan is currently the deputy managing director and president of the company. The board had also requested Naik, Group Executive Chairman, to provide guidance and mentorship to the company's leadership subsequent to his current term. He will assume the new role of non-executive chairman for a period of three years beginning October 1, immediately upon his retirement as Executive Chairman on September 30. Naik said Subrahmanyan has a great work ethic and business acumen to take L&T to greater heights in the future. "I have full confidence that under .

Govt sells 2.5% stake in L&T, raises Rs 4,000 cr

SBI, LIC, New India Assurance were among the buyers for the SUUTI stake that stood at 6.53%

L&T hits 21-month high post Q4 results, 1:2 bonus share plan

The stock hit high of Rs 1,834, up 2.6% on BSE, its highest level since August 10, 2015.

L&T misses order inflow, says headwinds to continue

Conglomerate expects private capex cycle to remain muted in the current financial year

L&T ties up with Hanwha for gun programme

They'll jointly manufacture over 100 self- propelled howitzers for Indian Army

Change of guard at L&T: Subrahmanyan to be CEO from July

Engineering conglomerate Larsen& Toubro Ltd's longawaited succession plan is now official and approved with the company's boardgiving its go-ahead to appoint SN Subrahmanyan as the new chief executiveofficer and managing director from July 2017. Even as Subrahmanyan takes reigns of the conglomerate asMD& CEO, group's current Executive Chairman AN Naik is expected to continueas non-executive chairman from October 2017 for another three years time. With a well-planned succession plan and Naik around to guidethe group, Subrahmanyan expects business to continue at the group the "L&Tway". "This was a well planned succession plan and Mr. Naik has been groomingme and last two three years we have had a very close working relationship. Thestrategic plan for 2020-21 is already in place. It would be business the way L&Twould do it," Subrahmanyan said in a telephonic interview with BusinessStandard. Subrahmanyan joined L&T in 1984 and in 2011 was inducted into theL&T ...

How L&T played a role in Isro's launch of 104 satellites

PSLV-C37 was using S139 Motor Casings manufactured by the Aerospace Business Group of L&T

L&T net profit jumps 84% in September quarter

Consolidated net profit at Rs 1,435 crore in the quarter, against Rs 778 crore a year earlier

Larsen & Toubro trades lower after block deals

A combined 17.91 million equity shares representing 1.96% of total equity of L&T changed hands on the NSE and BSE till 09:43 am.

Suuti sale: Govt to divest 3% in L&T in block deal

The government has managed to raise around Rs 21,400 crore through divestments and buybacks

L&T gains as consortium wins Rs 3,799 crore railway order

The stock moved higher by 2.6% to Rs 1,474 on the BSE.

Proxy advisory firms see red over L&T issuing stock to top management

Allotment of the ESOPs took place before the RHP was filed, a L&T spokesperson said

A M Naik to focus remaining tenor to mentor young leaders at L&T

Naik has served the largest engineering and construction behemoth for more than a half a century

GE, L&T partner to manufacture subsea equipment

L&T's modular fabrication facility in Tamil Nadu will be used for the production

Sebi should have foreseen confusion over Ind-AS: R Shankar Raman

Interview with Chief financial officer, Larsen & Toubro

L&T to start process to list tech services business in 3-5 weeks

Group set to file a draft red herring prospectus in the coming weeks; looks at a valuation of $1-1.5 billion