Engineering giant Larsen and Toubro and Aditya Birla group firm Grasim Industries are set to settle their long-standing dispute over the sale of cross-holdings out of court. Both the companies are believed to be in consultation with Chennai-based chartered accountant S Gurumurthy to act as arbitrator.
Larsen & Toubro is set to invest Rs 100 crore (Rs 1 billion) in Mysore-based Rangsons Electronics for a 40 per cent stake.
The ministry of defence has bought two regiments of the indigenous Pinaka multi-barrelled rocket launcher for Rs 3,230 crore.
Omaxe, L&T and Unitech have already applied for the Rs 200-crore (Rs 2 billion) development projects at Udaipur and Amritsar. The work includes commercial operations and maintenance of the airport terminal building, besides development of 46,268 sq metres and 110,308 sq metres of land for city-side development and cargo handling facilities at Udaipur and Amritsar, respectively.
Around 75 per cent, or 372 stocks, that are part of the BSE500 are trading at least 10 per cent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade on Wednesday, surpassing its previous high of 20,390 touched in March 12. The index, which accounts for 93 per cent of BSE listed companies' market capitalisation, has gained 8 per cent from its recent low of 18,983, touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 per cent over the same period, but is still nearly 4.5 per cent away from its all-time high of 52,517 that it hit on February 16.
Post-bribery disclosure, Cognizant is not pursuing greenfield expansion in the country and relying on leased facilities for new demands. The incident, which came to light in 2016, is also said to have claimed 200-300 jobs so far mainly in areas like administration, legal, and procurement.
The sale of Essar Oil was India's biggest deleveraging exercise undertaken by any debt-heavy group
Nine lenders have exposure to the promoter entities and had taken listed operating companies' shares as collateral from the promoter companies.
Sanjay Jalona, CEO & MD of LTI says the push would be to increase digital business and look at outcomes in projects for customers.
The Larsen and Toubro employee stock option controversy is becoming a major face-off between the financial institutions and the construction major.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
In the Sensex pack, Sun Pharma was the biggest gainer, rallying 4.48 per cent, followed by Bajaj Auto, Tata Motors, Coal India, Hero MotoCorp, Maruti and HCL Tech, rising up to 3.01 per cent. While, RIL, PowerGrid, HDFC, L&T, IndusInd Bank, NTPC and Bajaj Finance declined up to 1.50 per cent.
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The broader NSE Nifty gained 17.35 points or 0.16 per cent to end at 10,997.35.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Larsen and Toubro Infotech has signed an agreement to acquire GDA Technologies and all its design centres in the US and India.
Four L&T executives, 2 from RIL and 1 from Tech Mahindra own over Rs 100 crore (Rs 1 billion) each in stock options.
L&T Infotech hits the refresh button, rebrands itself as LTI With a new name, colour palette and business focus, L&T Infotech looks to break free of its past
Now sole contender as L&T Infotech quits race
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
A M Naik, chairman and managing director of L&T, said the details, such as the size of the funds required for each of these companies and proposed dilution of the equity, were yet to be worked out.
Bank shares were the top gainers led by ICICI Bank.
Tata Steel and Axis Bank were among the top gainers in the Sensex pack, surging up to 6.67 per cent following their March quarter results.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Indian engineering and technology conglomerate Larsen & Toubro Ltd on Monday opened its first-ever electrical manufacturing facility abroad in the Chinese city of Wuxi.
Larsen and Toubro has forayed into dredging business by acquiring 61 per cent stake in International Seaport Dredging\nPvt Ltd.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Investor wealth zoomed over Rs 10.48 lakh crore in two days as the Budget-driven market euphoria continued to charge bulls on Tuesday.
Gammon India and L&T were the only bidders left in the fray for the project
Top losers in the Sensex pack included IndusInd Bank, Bharti Airtel, Tata Motors, Axis Bank, Kotak Bank, Bajaj Auto, Yes Bank, HCL Tech, HUL and Hero MotoCorp, falling up to 4.36 per cent.
7.8 million square feet of mall space is under construction this year, the highest ever since 2011.
Mumbai-based L&T Infotech, a part of the Larsen &Toubro group, is evaluating acquisitions of $50-200 million (close to Rs 200-820 crore) in the US, Europe and India in a bid to boost revenues.
Deutsche Bank says rising debtor days and low customer advances imply significant net working capital requirement.
Amit Shah's net worth grew 32 per cent to Rs 37.91 crore, mainly due to 80 per cent appreciation in the market value of his securities.
In its bid to attract young talent in manufacturing sector, engineering and construction major Larsen and Toubro Ltd is planning to tap villages and district level educational institutions in the country.
Private sector giants Reliance Energy, Torrent Power, Jaiprakash Group and L&T are among the companies that have bid for setting up hydro power plants in Himachal Pradesh.\n\n
The broader NSE Nifty sank 252.55 points, or 2.14 per cent, to 11,558.60.
Yes Bank was the biggest gainer in the Sensex pack, soaring up to 15.19 per cent, followed Tata Motors, IndusInd Bank, SBI, Bajaj Auto, Asian Paints, Axis Bank, Tata Steel and Maruti, rising up to 9.82 per cent.
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