Page 9 - Larsen & Toubro

Govt to tender shares in L&T buy back offer, to fetch Rs 7 bn to exchequer

The government is likely to offer its shares in Larsen & Toubro's buy back offer, which is estimated to fetch about Rs 700 crore to the exchequer, an official said Thursday. Infrastructure major Larsen & Toubro (L&T) has already approached market regulator Sebi seeking approval for launching a share buyback programme. The offer is likely to open soon. "The government will participate in the buy back process. The shares would be tendered on proportionate basis," an official told PTI. The government currently holds 1.8 per cent stake in L&T through the Specified Undertaking of the Unit Trust of India (SUUTI). The share buy back price has been fixed at Rs 1,475 a piece. "At this price the government is likely to get around Rs 700 crore by tendering shares in the buy back offer," the official said, adding over 49 lakh shares held by SUUTI in L&T are likely to be bought back. When contacted, L&T spokesperson declined to comment on the story. Shares of L&T closed

L&T subsidiary shows interest in troubled Jaypee, ploughs its own path

May be due to CPPIB on its board, say analysts

Quarterly results preview: L&T likely to report more of order inflow

The quarter's revenue is expected to gain from a low base, as goods and services tax implementation led to lower revenue recognition in the same quarter a year before

L&T bags Rs 30.36-bn order to build T2 of Bengaluru international airport

Larsen & Toubro (L&T) Wednesday said its buildings and factories business has won Rs 3,036-crore order from Bangalore International Airport Ltd (BIAL) to construct terminal-2 of the Kempegowda International Airport, Bengaluru. "The scope of work includes design, engineering, procurement, construction, testing and commissioning of terminal-2, including the integration of services and utilities along with the airport's systems, support facilities and buildings," the engineering and construction major said in a BSE filing. The company said, once completed, the 2,55,000 square metre phase 1 of T2 will augment the capacity of the airport by 25 million passengers per annum (MPPA). L&T Construction is also currently constructing the New South Parallel Runway (NSPR), apron and other auxiliary buildings at the Bengaluru Airport. Shares of the company were trading at Rs 1,232 apiece, down 1.24 per cent, from the previous close on BSE.

L&T hits over two-month high; stock up 11% in two weeks

The stock was up 2% at Rs 1,374 on the BSE, its highest level since June 4, 2018.

L&T construction bags order worth Rs 13.94 bn for irrigation project in MP

Larsen & Toubro (L&T) today said its construction arm has won an order worth Rs 1,394 crore for the execution of the Kundalia Irrigation Project - Right Bank in Madhya Pradesh (MP). "The water and effluent treatment business of L&T Construction has won an EPC order worth Rs 1,394 crore from the Water Resources Department, Government of Madhya Pradesh, for the execution of the Kundalia Irrigation Project - Right Bank," the engineering and construction major said in a BSE filing. L&T said the project envisages to provide water for micro-irrigation to more than 64,000 hectares of cultivable land in the command area of Rajgarh district of Madhya Pradesh by lifting water from Right Bank of the Kundalia reservoir on the Kalisindh River. Shares of the company were trading at Rs 1,354 apiece, up 0.83 per cent, from the previous close on BSE.

From buyback to criticism of A M Naik: Many firsts at L&T's 73rd AGM

The meeting also saw the presence of Ole Toubro, son of the founding partner Soren Kristian Toubro

L&T's board approves Rs 90-billion share buyback proposal at Rs 1500 apiece

For L&T, which has divested from a couple of non-core assets in the past few quarters, a buyback will translate into cash outflows

With 36% growth in Q1 profit, L&T takes a strong start to fiscal year 2019

Rising project order flow, improving execution continues to boost topline

L&T Construction gets Rs 13.87-billion contract in Andhra Pradesh

Engineering major Larsen & Toubro (L&T) today said its construction arm has bagged an order worth Rs 1,387 crore for construction of a bridge across the Krishna river in Andhra Pradesh. "The construction arm of L&T will construct a ...bridge across the river Krishna at Amaravati, Andhra Pradesh. The bridge will connect Pavitrasangamam in Vijayawada and N10 road in Amaravati," the company said in a BSE filing. The Rs 1,387 crore project has been awarded by the Amaravati Development Corporation Ltd (ADCL). L&T has also been entrusted with the operation and maintenance of the bridge for five years, it added. Shares of the company were trading at Rs 1,356.95 apiece, up 1.07 per cent from the previous close on the BSE.

Schneider deal done, L&T says no more non-core divestment on the cards

Analysts remain hopeful of smaller deals, say firm may also be looking to monetise core businesses

Analysts see Rs 140-billion L&T-Schneider deal in positive light

Brokerages, which had estimated the electrical and automation business to fetch Rs 140-160 billion, say valuations are fair

L&T construction to build Dwarka expressway; bags orders worth Rs 26 bn

Larsen & Toubro (L&T) today said its construction arm has won orders worth Rs 2,597 crore across business segments. L&T, in a BSE filing, said its transportation infrastructure business has secured an order worth Rs 1,047 crore. "An order has been received from the National Highways Authority of India (NHAI) for the construction of the 8.7 Km long Dwarka Expressway in Haryana in EPC mode," it added. L&T Construction's water and effluent treatment business has secured an order worth Rs 949 crore while its buildings and factories business has won an order worth Rs 601 crore. Shares of the company were trading at Rs 1,301.95 apiece, up 0.91 per cent, from the previous close on the BSE.

L&T construction arm bags orders worth Rs 15.93 bn across business segments

An EPC order has been secured from Udaipur Smart City Limited

L&T Construction bags Rs 16.8 bn orders from Pune Municipal Corporation

Industrial conglomerate Larsen and Toubro (L&T) on Monday said its construction arm has bagged orders worth Rs 1,680 crore from the Pune Municipal Corporation to revamp the water supply system in the city.

Larsen & Toubro's construction arm bags Rs 13.1-bn worth orders; shares dip

Engineering giant Larsen & Toubro (L&T) today said its construction arm has won contracts worth Rs 1,310 crore in various business segments. "The construction arm of L&T has won orders worth Rs 1,310 Crore across various business segments," the company said in a statement. It said its Water & Effluent Treatment Business has won orders worth Rs 631 crore including a contract from Bihar Urban Infrastructure Development Corporation Ltd to lay a new sewerage network and construct pumping stations at Saidpur. The Buildings & Factories Business has won an order worth Rs 340 crore, it said. "The business has won a prestigious order to construct an IT Park at Chennai from a leading developer. The proposed development will offer two towers of ten floors each and is required to be completed within stringent timelines. L&T's scope includes construction of the entire civil structure, architecture works, faade and MEP works," the statement said. Besides, its ...

L&T's construction arm bags orders worth Rs 3,572 cr

Larsen & Toubro (L&T) today said its construction arm has won orders worth Rs 3,572 crore across business segments. "The construction arm of L&T has won orders worth Rs 3,572 crore across various business segments," the engineering and construction major said in a BSE filing. L&T said transportation and infrastructure business has bagged order an worth Rs 1,358 crore from Bangalore International Airport Ltd. Its metallurgical and material handling business received orders worth Rs 1,264 crore in the domestic market. While the company's power transmission and distribution business and building and factories business won orders worth Rs 595 crore and Rs 355 crore, respectively. Shares of the company were trading 0.87 per cent higher at Rs 1,226.90 apiece in the morning trade on BSE today.

L&T set to be first Indian firm to build metro outside India

The company is likely to complete the Rs 3,400-cr light rail-based urban transit system in Mauritius

L&T Q2 net up 32%

The firm maintains full-year revenue growth guidance at 12%; trims order inflow guidance to marginal y-o-y growth for FY18

L&T: Recent orders add strength

Steady pick-up in domestic order execution and stable West Asia business provide confidence