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Larsen & Toubro, India's largest infrastructure builder, reported a 7 percent rise in quarterly profit, beating analyst estimates, as it booked increased revenue despite a weak domestic economy.
Deutsche Bank says rising debtor days and low customer advances imply significant net working capital requirement.
Larsen & Toubro Ltd will shortly file with the Bombay Stock Exchange its plans for a trust scheme for its employees to pick up 15 per cent stake of Grasim Industries Ltd.
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.
Late selling in the market saw the Sensex close seven points lower at 9,374.
Anil Manibhai Naik, managing director and CEO, Larsen & Toubro, has stayed away from the media glare ever since the A V Birla-owned Grasim Industries Ltd made an open offer for the engineering and cement major about six months back.
Sebi view on Grasim-L&T row in few weeks
Investors, who invested in capital goods companies like Larsen & Toubro, Siemens, BHEL and ABB, would have made money even in falling markets.
Larsen & Toubro on Monday said it has recorded a 30 per cent jump in net profit at Rs 132.35 crore (Rs 1.32 billion) for the quarter ended December 31, 2004 compared to Rs 101.8 crore (Rs 1.01 billion) in the year-ago period.
The Sensex opened with a positive gap of 35 points at 11,114. The index zoomed to a new all-time intra-day high of 11,147, and is now up 54 points at 11,133.
The Sensex opened with a positive gap of 11 points at 10,852
After moving in a wide range of 10,206 to 10,423, the Sensex finally settled with a smart gain of 88 points at 10,370.
The Sensex touched a new all-time intra-day high at 10,196, and finally closed with a smart gain of 89 points at 10,168.\n
The Sensex once again opened with a positive gap at 10,169 - up 45 points from its previous close
The 30-sare BSE Sensex opened on a firm note above the 10,120 mark. At 1006 hrs it is up 14 points at 10,125.
The Sensex, which, scaled to a new lifetime intra-day high of 9994, tumbled into negative zone to touch a low of 9819, and finally closing with a loss of 61 points at 9,859.
After scaling to a new all-time high of 9714, the Sensex finally closed with a gain of 136 points at 9,686.
L&T was beset by buying in early trades on Thursday after the company announced that it bagged a Rs 1,242-crore (Rs 12.42 billion) order from IOC to set up a PTA plant at the latter's refinery at Panipat.
Shares of cement companies rallied on Tuesday on hopes of improved quarterly results.
Rediff readers shared these pictures of the Shore temple in Tamil Nadu.
'With the ease of access, we have seen an increased participation from tier-2, tier-3, and tier-4 cities/towns.'
Singh made the remarks while addressing a "CEOs' Roundtable" at the 14th edition of Aero India at the Yelahanka Air Force station complex on the outskirts of Bengaluru.
The Sensex after moving in a range of 10,556 to 10,690, finally ended with a loss of 31 points at 10,595.
Four companies - Rajesh Exports, Hyundai Global Motors Company, Ola Electric Mobility and Reliance New Energy - are eligible for receiving benefits under the production-linked incentive (PLI) scheme for advanced chemistry cell battery storage, the heavy industries ministry said on Thursday. The allotment was made for a total of 50 GWh of battery capacity to the four successful bidders. These firms, the ministry said, will receive incentives under India's Rs 18,100 crore programme to boost local battery cell production.
