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 NSE Nifty settled flat at 5,054. The market breadth was fairly positive, out of 2,843 shares traded, 1,599 advanced and 1,166 declined on the BSE.
Engineering major Larsen & Toubro said on Tuesday it has not received any intimation from market regulator Securities and Exchange Board of India regarding its chairman and managing director, A M Naik's comment on the Satyam issue.
The Nifty ended at 4,882 -- down 17 points. The BSE market breadth was negative. Out of 2,808 stocks traded 1,460 declined while 1,290 advanced.
L&T is planning a foray in PE fund in the real estate market with a Rs 4500 crore fund.
The fast interceptor craft delivered can patrol the coastline at a scorching speed of 45 knots.
After a strong start to the week on Tuesday, the Sensex this morning opened 15 points higher at 16,868 amid subdued global cues.
The Foreign Investment Promotion Board has cleared a proposal by German plastic moulding major Ralf Schneider to set up a wholly-owned subsidiary in India, setting aside objections raised by its former Indian partner Larsen & Toubro under Press Note 1 of the Foreign Direct Investment policy.
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.
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.
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
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.
Software giant Wipro's Azim Premji donated Rs 9,713 crore or Rs 27 crore a day to retain his top rank among Indian philanthropists in FY21. Premji, the founder chairman of the company, increased his donation by nearly a fourth during the pandemic year, as per the Edelgive Hurun India Philanthropy List 2021, which had HCL's Shiv Nadar at second place with contributions of Rs 1,263 crore towards upliftment causes. Mukesh Ambani of Reliance Industries, India's richest man, came third on the list with a Rs 577 crore contribution and was succeeded by Kumar Mangalam Birla with Rs 377 crore.
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.
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.
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.
PowerGrid was the top gainer in the Sensex pack, spurting 2.76 per cent, followed by NTPC, M&M, L&T, Hindustan Unilever, HDFC, and Infosys.
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.
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.
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.
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.
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