Tag: L&T

Markets remain under pressure; L&T, Tata Motors shares dip

The key domestic benchmark indices were trading in a negative terrain in the morning trading session amid weakness in Asian stocks as markets remained under pressure.

On the corporate front, Central Depository Services (CDSL) shares debuted with 68 percent gains on the National Stock Exchange. The share price opened at Rs 250 against the issue price of Rs 149.The bumper listing was on expected lines as the issue had overwhelming response, oversubscribing 170 times. HDFC also remained in focus on the news that HDFC Life, one of the country’s leading private sector life insurance companies, will decide on the initial public offering (IPO) in its Board meeting in July.

At 10:20 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 30750.94 down by 106.58 points or by 0.35 per cent, while the NSE Nifty was at 9466.2 points, trading lower by 37.9 points or by 0.4 per cent.

The BSE Sensex touched an intraday high of 30824.97 and an intraday low of 30680.66 while the NSE Nifty touched an intraday high of 9478.9 and an intraday low of 9448.75

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 550.00,+2.14 per cent), ITC Ltd. (Rs. 315.40,+1.28 per cent), Power Grid Corporation of India Ltd. (Rs. 210.00,+1.03 per cent), Dr. Reddy’s Laboratories Ltd. (Rs. 2670.00,+0.89 per cent), Cipla Ltd. (Rs. 549.15,+0.81 per cent), among others.

Meanwhile, Larsen & Toubro Ltd. (Rs. 1670.20,-1.89 per cent), Tata Motors Ltd. (Rs. 265.50,-1.28 per cent), Bharti Airtel Ltd. (Rs. 377.80,-1.25 per cent), Housing Development Finance Corporation Ltd. (Rs. 1612.00,-1.23 per cent), ICICI Bank Ltd. (Rs. 290.35,-1.14 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2048 shares traded, 858 shares advanced, 1081 shares declined while 109 were unchanged.

On the global front, Asian stocks were trading lower today despite China manufacturing activity beating expectations as select tech shares around the region sold off, while the Wall Street closed lower in the previous trading session as S&P 500 and the Dow industrials suffered losses largely weighed down by technology stocks.

30/06/2017 10:22

L&T Construction bags Rs 2,552 cr orders

L&T Construction bags Rs 2,552 cr orders

27/06/2017 12:28

Country’s leading multinational conglomerate Larsen & Toubro Ltd on Tuesday said that its construction arm, L&T Construction, has secured orders worth Rs 2,552 crore across its transportation infrastructure business and water effluent treatment business segments.

“The construction arm of L&T has won orders worth Rs 2,552 crore across its various business segments,” the company said in a filing to the Bombay Stock Exchange on June 27, 2017.

It’s transportation infrastructure business and water effluent treatment business segments jointly bagged Rs 1,223 crore EPC order from Aurangabad Industrial Township Ltd (AITL) for construction of roads, drains, bridges, potable water network, sewage and common effluent treatment plants, sewerage and recycled water network, firefighting system and power distribution system including GIS substation, in the Bidkin industrial area of Aurangabad, the company said in a statement.

Besides, the company’s water effluent treatment business has also received another EPC order worth Rs 1,329 crore from Mumbai Metropolitan Region Development Authority for implementation of Surya Regional Bulk Water Supply Scheme for western sub region of Mumbai, it added.

The scope of work includes construction of intake structures, a 419 MLD water treatment plant, a clear water pump-house along with associated electro mechanical & instrumentation works, pipeline network, tunnels and storage structures at Mira Bhayandar & Vasai Virar, it said.

Meanwhile, shares of the company were trading at Rs 1,699.15 apiece, down 1.39 per cent, from previous close on BSE at 12:32 hours.

L&T Infotech files fresh papers with Sebi for IPO

L&T Infotech files fresh papers with Sebi for IPO

13/04/2016 08:30

Larsen and Toubro (L&T) said its subsidiary L&T Infotech has filed a fresh draft red herring prospectus (DRHP) with the market regulator Sebi to launch its Initial Public Offer (IPO), reported PTI.

The offer would comprise of an offer for sale of up to 17,500,000 equity shares of the subsidiary by L&T Ltd, the company said in a regulatory filing.

Yesterday, L&T had said it had withdrawn an earlier DRHP filed with the regulator for the proposed IPO.

The earlier prospectus was withdrawn yesterday “due to change in the Offer structure and other considerations”.

The firm had filed the earlier DRHP with Sebi in September 2015, seeking permission for an IPO, and had obtained a go-ahead from the capital markets regulator on December 31, 2015.

L&T Infotech, the IT services unit of L&T, figures among the India’s top 10 IT service providers.

The IT firm, which clocked a revenue of Rs 5,070 crore in in 2014-15, is also looking at acquisitions in relation to its IMS business. It already has 22 delivery centres and 42 sales offices globally.