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.
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.
The progress of the GST Bill in Parliament is also likely to remain in focus
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.
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.
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.
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.
Combined debt-equity ratio of top companies declines but interest expenses outgrow profits.
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.
The 13 firms under consideration had nearly a million employees as of March 2018, including contractual and temporary workforce.
The potential entrants include the Essar Group, Punj Lloyd, Larsen & Toubro, real estate developer Atlanta, Hyderabad-based Nagarjuna Construction and Delhi-based DS Constructions.
The Indian companies, however, invested a much lower $1.59 billion in overseas markets in the previous month May 2014.
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.
After a delay of four months, Indian intelligence agencies have given security clearance to International Container Terminal Services Inc
