Under the RFQ, companies had to initially participate in technical bids based on certain minimum criteria such as net worth, experience and so on. Only five or six companies that scored the highest on this basis were then permitted to put in financial bids.
Larsen & Toubro, India's largest engineering, construction and technology company, is aggressively expanding its footprint across various places abroad
The Rs 2,460-crore project, an initiative of the Mumbai Metropolitan Regional Development Authority, is a modern urban transport where cars move on a single beam in an elevated corridor.
Data shows of the 385 companies, which had announced their latest shareholding, fund houses cut their stake in about 200.
The presence of the private sector at a prestigious military training institution is an important acknowledgement of its growing capabilities in designing and manufacturing cutting edge aerospace and defence equipment, reports Ajai Shukla.
Comparing the capabilities of India and China in services and manufacturing respectively, Finance Minister P Chidambaram empasised the need to excel in the manufacturing sector.
Indian corporates have raised around $11.9 billion through overseas borrowing in the first five months of 2007-08, according to the Reserve Bank of India (RBI) data on external commercial borrowings (ECB).
Benchmark indices gained for the third day running on Friday, with the Sensex climbing over 300 points amid mixed global market trends. The 30-share BSE benchmark advanced 303.38 points or 0.56 per cent to settle at 54,481.84. During the day, it jumped 448.68 points or 0.82 per cent to 54,627.14. The broader NSE Nifty went higher by 87.70 points or 0.54 per cent to end at 16,220.60.
L&T has denied the charge and said the delay was entirely due to a dispute between Cidco and the railways.
'If you are in a position to give employment to local people, you will find no terror attacks in your area.'
In an interview with PricewaterhouseCoopers, A M Naik, chairman of Larsen & Toubro Limited, talks about the company's strategies, opportunities and the challenges facing it.
Tata Motors was the biggest loser in the Sensex pack, skidding 1.77 per cent, followed by SBI, Power Grid, Tata Steel, Infosys, UltraTech Cement, Titan, Larsen & Toubro, Reliance Industries and Maruti. On the other hand, IndusInd Bank, Bharti Airtel, Asian Paints, NTPC, HCL Technologies, HDFC and Sun Pharma were the gainers.
The new company, which will be based in Palegaon near Pune, would aim at development, design, manufacturing and related services in the fields of electronic warfare, radars, military avionics and mobile systems for military requirements of Indian customers as well as the world market.
From the Sensex pack, Bajaj Finance, Tata Motors, Asian Paints, Power Grid, NTPC, Infosys, Nestle, Reliance Industries and UltraTech Cement were the biggest laggards. Larsen & Toubro, Tata Steel, HDFC, Bharti Airtel, HDFC Bank and Mahindra & Mahindra were among the major gainers.
Uppal, Kotwal, Venkataramanan shortlisted for managing director's post; outsider not ruled out.
The combined market capitalisation of BSE-listed companies hit an all-time high of Rs 343.48 lakh crore on Monday, amid a rally in equities after the BJP registered victory in assembly polls in three Hindi heartland states. Following the sharp uptick in the market, investors became richer by over Rs 5.81 lakh crore on Monday. The 30-share BSE Sensex jumped 1,383.93 points, or 2.05 per cent, to close at a lifetime high of 68,865.12.
These include B K Modi's Spice, Larsen & Toubro and Tech Mahindra. iGate, which had participated in the first round of bidding, backed out from completing the second round. Global majors like IBM are understood to have entered the second round, but this could not be independently confirmed. Other names floating include that of Hewlett-Packard and KKR Private Equity Investors.
To present revival plan to board; Naik meets PMO official.
Lockheed Martin is in talks with Infosys Technologies, Wipro, Reliance Industries, the Tata group, Larsen & Toubro and Hindustan Aeronautics to source software services, components and systems.
Larsen & Toubro, now one of Satyam's largest single shareholders with 4 per cent, sees a lot of synergy between the core strengths of the beleaguered software giant with those of L&T Infotech, its unlisted information technology subsidiary.
Four companies, including India's largest private sector electricity generator Tata Power and infrastructure major Larsen & Toubro Ltd, chose not to bid for the Rs 16,000-crore ultra mega power project (UMPP) in Tilaiya in Jharkhand even as Reliance Power, Lanco Infratech and NTPC Ltd, the country's largest power producer, submitted their technical bids.
The residential real estate prices in Powai and adjoining areas are around Rs 25,000 per sq ft.
L&T plans to transfer the equity of L&T in their joint ventures with Mitsubishi Heavy Industries into L&T Power through a book transfer, if clauses for the re-tender remain the same, company executives told Business Standard.
The companies include Larsen & Toubro, Hindustan Unilever, Infosys, TCS and Sun Pharma
Benchmark indices Sensex and Nifty closed down by half a per cent on Friday following losses in IT and banking shares amid overall weak global market trends. The BSE Sensex declined 316.94 points or 0.52 per cent to settle at 61,002.57. During the day, it fell 508.84 points or 0.82 per cent to 60,810.67.
The Bill will be tabled in the winter session of Parliament later this year.
Sebi view on Grasim-L&T row in few weeks
The BoA also allowed three developers, including Unitech Infopark, to surrender their SEZs, he said, adding they would have to pay back the tax concessions availed while executing the projects and other pending dues.
There are some companies in the sector that have seen a decline in revenues but their performance is not sufficient to cause such a decline in industrial production data.
Private sector engineering major Larsen & Toubro has said that China is systematically killing Indian manufacturing sector and sought 25 per cent anti-dumping duty on Chinese goods.
The company, which has been selling mining trucks in collaboration with Larsen & Toubro since 2007-08, has formed an Indian arm, Scania Commercial Vehicles India Pvt Ltd.
The Sensex and Nifty ended at fresh lifetime peaks on Tuesday amid a largely firm trend in other Asian markets and continuous foreign fund inflows. The 30-share BSE Sensex gained 177.04 points or 0.28 per cent to settle at 62,681.84, its fresh record closing high. During the day, it jumped 382.6 points or 0.61 per cent to its lifetime intra-day peak of 62,887.40.
A fag-end sell-off dragged down benchmark indices in a choppy session on Friday, with the Sensex settling 49 points lower. The 30-share BSE Sensex, which traded in the green for most part of the day, came under selling pressure towards the end to close 48.88 points or 0.09 per cent lower at 55,769.23. During the day, it hit a high of 56,432.65 and a low of 55,719.36.
L&T's gameplan is simple: if the government has committed to a 20-25 per cent cut in emission intensity, L&T has to aim for a much higher reduction, so that even if smaller companies take time to come up the curve, the average emission cut would reach the level that the government wants.
Equity benchmark indices rallied nearly 1 per cent to re-visit the 59,000-mark on Monday, tracking heavy buying in index heavyweights Reliance Industries and ICICI Bank. The BSE benchmark rose 442.65 points or 0.75 per cent to settle at 59,245.98. During the day, it jumped 504.92 points or 0.85 per cent to 59,308.25.
Amongst the most aggressive of India's hopeful new Lockheed Martins is the Rs 1,30,000-crore Tata Group, which has launched a carefully crafted bid to become a major player in India's defence industry.
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