The Indian companies, however, invested a much lower $1.59 billion in overseas markets in the previous month May 2014.
L&T -- which has two subsidiaries L&T Infotech and L&T Technology Services -- is keen to bring Mindtree under its fold to exponentially raise its client base and product offering.
Two former directors on the Larsen & Toubro board have returned the employee stock option shares to the company following an out-of-court settlement reached this week with two government-owned financial institutions.
L&T will build the ports, operate it for a while and then transfer it to L&T-IDPL. Consequently, the new ports, like shipbuilding, will not sit on L&T's books though it will reap the benefits as the constructor of the projects.L&T is also constructing three airports: the new one coming up in Delhi (as the main contractor, end to end), at Bangalore as a constructor and an equity partner, and at Hyderabad (as the constructor).
The proposed Krishnapatnam ultra mega power project - the third 4,000 Mw project to go under the government's hammer - has attracted just three bids from Sterlite, Reliance Power and Larsen & Toubro, though there were nine qualified bidders for the project.Those who have not bid after expressing an interest include Essar Power, NTPC, Japan's Sumitomo Corporation, China Light and Power (with GMR) Israel Electric Company (with DS Construction) and Tata Power.
In a communication to L&T, the financial institutions on Thursday said they were withdrawing the nominations of Sinha and Deshmukh from the board with immediate effect.
Over 93% of the orders in the year came from the central and state governments, PSUs, and NHAI.
The domestic capital goods industry has been going through a boom for the last five years and appears confident of maintaining the same momentum in the current year.
L&T plans to launch as asset management company and has also collaborated with US based Travelers for a non-life insurance venture.
Engineering and construction major Larsen & Toubro (L&T) is planning a capital expenditure of Rs 2,500 crore (Rs 25 billion) for the financial year 2008-09. The company might raise Rs 500-700 crore (Rs 5-7 billion) through debt, equity or a debt-equity mix in the second half of the financial year.
It is the only project in the world which can lift two TMC of water every day, the government said.
The acquisitions, costing more than $1.6 billion, have helped Holcim corner close to quarter of the country's 189 million-tonne cement market. Lafarge, which entered India in 1999 by acquiring the cement division of Tata Steel and bought out Raymond's cement facility in 2001, has a capacity of only 5.5 million tonnes. Holcim also plans to invest around Rs 10,000 crore (Rs 100 billion) in the next five years to set up plants.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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.
Y M Deosthalee, chief finance officer and a member of Larsen & Toubro's board, said companies accessed the domestic market for capital requirements, which might cost them a little more.
The UK-based BAE Systems has zeroed in on M&M and is believed to have signed a Memorandum of Understanding (MoU) after holding talks with at least two other leading corporates -- Tatas and Larsen and Toubro (L&T) for its Indian Land Systems project, sources close to the development said.
The Sensex opened 36 points lower at 15,755, but aggressive buying in Reliance, TCS and Larsen & Toubro saw the index rally to a high of 15,954. The Sensex finally ended with a loss of 95 points at 15,695. The NSE Nifty dropped 14 points to close at 4,733. ICICI Bank, Ranbaxy, HDFC Bank, SBI and Infosys, DLF and Cipla, Tata Motors, Wipro and HDFC were major losers. Reliance Energy, L&T, Tata Steel were major gainers. Reliance topped the value chart with turnover of Rs 375 cr.
The Life Insurance Corporation has decided not to nominate any retired employee as a director on the board of the almost 90 companies in which it has equity or loan exposure.
'After decades, there is movement on multiple fronts in artillery development. Now let us see how quickly we can get these guns into service'
The potential entrants include the Essar Group, Punj Lloyd, Larsen & Toubro, real estate developer Atlanta, Hyderabad-based Nagarjuna Construction and Delhi-based DS Constructions.
You could book partial profits as the markets are roaring ahead and valuations left far behind. But the markets could correct, warns expert Pranav Sanghavi.
The Larsen and Toubro employee stock option controversy is becoming a major face-off between the financial institutions and the construction major.
The Ambani brothers, Tata group, GVK Group, GMR Group and Larsen & Toubro are among the top players bidding for the greenfield Navi Mumbai airport, the second airport project in Mumbai.
After a delay of four months, Indian intelligence agencies have given security clearance to International Container Terminal Services Inc
Engineering and construction major Larsen & Toubro is planning to foray into arms and ammunition to widen its defence equipment portfolio
Stick to export-focussed plays, large-caps, say analysts
The Survey shows fiscal consolidation despite slowdown in growth.
While announcing the launch of Estancia three months ago, the promoters had said they would earmark about Rs 600 crore to develop an IT park inside Estancia.
Chairman A M Naik told Business Standard the "verticalisation" effort is aimed at ensuring better corporate governance as well as attracting talent to the 70-year-old company.
A day before the Reserve Bank's quarterly review tomorrow, the Bombay Stock Exchange benchmark Sensex today closed higher by a marginal 74 points even as brokers and fund operators maintained a low profile.
The Sensex crossed the 20,000-mark on the back of aggressive buying by funds ahead of the US Federal Reserve meeting.
The judge orally observed that the obtaining of this kind of benefit by any such nominee-director raised an important question of morality and, equally, of law.
An interview with Kekoo Colah, executive director of Knight Frank (India) Pvt Ltd.
There is a huge spurt in demand to launch smaller satellites, those as light as 1 kg, with a lifespan of two to three years. But there aren't enough rockets to carry these, reports T E Narasimhan
Do you think company head honchos who slog all the time are very difficult to handle? Do they put a lot of stress on their subordinates' minds?
For first time in 8 yrs, stake sale proceeds could exceed Budget Estimates. ONGC's acquisition of HPCL alone could get the exchequer more than Rs 30,000 crore.
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