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
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has signed a Rs 4,000-crore agreement with Larsen & Toubro Ltd, the engineering and construction major, for supply of equipment for its Nigrie Super Thermal Power Project in Madhya Pradesh.
Very often, 'sentiment' drives prices well beyond what is warranted and it is hard to forecast market sentiment, explains Debashis Basu.
Larsen & Toubro on Monday said it is yet to take any decision on selling its over 8 per cent stake in Mahindra Satyam, but had sought market regulator Sebi's approval for offloading the holding in the IT company.
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.
The NSE Nifty ended at 4,239, up 28 points. The index had dropped 565 points in the last two trading sessions.
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 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 potential entrants include the Essar Group, Punj Lloyd, Larsen & Toubro, real estate developer Atlanta, Hyderabad-based Nagarjuna Construction and Delhi-based DS Constructions.
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.
Engineering and construction major Larsen & Toubro Ltd said on Friday it has bagged a Rs 368-crore (Rs 3.68 billion) order from a power generation company in China for supply of critical gasification equipment.
Shares of ITC, Axis Bank and Larsen & Toubro are likely to stay with the Specified Undertaking of the Unit Trust of India, which was to be wound up in June.Legal opinion received by the government suggests that SUUTI can exist as long as all investors in one of the schemes floated by the erstwhile Unit Trust of India have not redeemed their investment, sources close to the development said. The value of the shares of the three blue chips was estimated at over Rs 15,000 cr.
Hinting towards a possible takeover of Satyam Computer, engineering major Larsen & Toubro on Friday raised its stake in the beleaguered IT firm to 12 per cent through open market share purchases.
An interview with Kekoo Colah, executive director of Knight Frank (India) Pvt Ltd.
The orders will be jointly executed by L&T's Heavy Engineering Division and the Engineering & Construction division
Thirty stocks from various sectors form the Sensex.
L&T has acquired Cafe Coffee Day-owner V G Siddhartha's 20.32 per cent stake in Mindtree and has also placed an order with brokers to pick up another 15 per cent shares from the open market.
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.
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.
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.
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.
Sliding for the fourth straight day, the BSE Sensex shed 152 points in choppy trade on Wednesday amid mixed global cues ahead of the US Federal Reserve's policy decision.
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 & Toubro will sell its 11.49 per cent stake in the Aditya Birla Group-owned UltraTech Cement in the open market, after the latter waived its first right of refusal to buy the stake.
Changes have been made in several indices including Nifty 500, Nifty 200, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250 and host of sectoral indices including FMCG, IT, media, pharma, commodities and services sector.
