L&T bags ‘significant’ orders from Damodar Valley Corporation
Posted on 19th July 2019 |
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Infrastructure company Larsen & Toubro Friday said its power business has bagged “significant” orders from Damodar Valley Corporation (DVC) to set up flue gas desulphurisation (FGD) systems in three of its power plants. DVC’s three plants where FGD systems will be set up are Durgapur Steel Thermal Power Station (2×500 MW), Mejia Thermal Power Station (2×500 MW) and Raghunathpur Thermal Power Station (2×600 MW) – in West Bengal, Larsen & Toubro (L&T) said in a regulatory filing. |
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L&T Infotech to acquire Bengaluru-based Lymbyc
Posted on 18th July 2019 |
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L&T Infotech said on Wednesday that it is set to acquire Bengaluru-based firm Lymbyc that specialises in artificial intelligence, machine learning and advanced analytics. This would be L&T Infotech’s (LTI) fifth acquisition since its listing in 2016. The transaction is expected to close within four to six weeks with the 100% acquisition to be done via cash. LTI said the enterprise value for 100% share capital of Lymbyc is Rs 38 crore on a cash-free, debt-free basis which will be paid as a combination of upfront and three-year earn-out payments. |
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L&T assures Mindtree shareholders of further impetus to long-term growth
Posted on 16th July 2019 |
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Mindtree’s new promoter Larsen and Toubro (L&T) Tuesday assured shareholders that it will provide further impetus to the IT firm’s growth by providing board-level oversight and relevant client connects. Earlier this month, L&T became the new promoter of Mindtree after acquiring 60.06 per cent stake in the Bengaluru-based company. |
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L&T acquires controlling stake in Mindtree, reveals report
Posted on 26th June 2019 |
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Indian conglomerate Larsen and Toubro (L&T) has acquired a controlling stake in IT services company Mindtree, CNBC TV18 channel reported, citing sources. The report comes within months of Mindtree rejecting a hostile takeover bid from L&T, saying the plan was of no value for the firm or its shareholders. L&T’s hostile bid to acquire a controlling stake in Mindtree is the first in India’s software services industry and is rare in India’s corporate sector, where unsolicited suitors are usually deterred by founders with large shareholding. |
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L&T bags order for over ₹7,000 cr. power project in Bihar
Posted on 24th June 2019 |
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Engineering and construction major Larsen and Toubro (L&T) has bagged a mega engineering, procurement and construction (EPC) order from SJVN Thermal Private Limited to set up a 2x660 MW ultra-supercritical power plant in Buxar district, Bihar. The award bagged by L&T’s power division is over ₹7,000 crore as per the company’s classification of mega project. |
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Mindtree approves appointment of 3 L&T nominees as board directors
Posted on 21st June 2019 |
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In the mid of an open offer process, Mindtree board on Thursday approved the appointment of L&T’s nominees as directors, which included the engineering major’s Chief Executive Officer (CEO) and Managing Director S N Subrahmanyan and its Chief Financial Officer (CFO) Ramamurthi Shankar Raman, among others. |
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Mindtree directors' panel finds L&T offer price 'fair & reasonable'
Posted on 13th June 2019 |
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The independent directors’ committee (IDC) at Mindtree on Wednesday said Larsen and Toubro’s open offer price of Rs 980 seemed “fair and reasonable”, and recommended that shareholders take independent but informed decision on tendering their shares. |
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L&T's open offer price at Rs 980/share fair: Mindtree independent directors
Posted on 12th June 2019 |
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Independent Directors' panel of Mindtree has said that Larsen and Toubro's open offer price at Rs 980/share appears "fair and reasonable". The committee cited the closing market price of Mindtree shares on the stock exchanges on June 10, being "lower than the offer price" and said that L&T's offer price of Rs 980 a share is in accordance with the regulations and "appears to be fair and reasonable". |
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L&T Construction bags large orders across various business segments
Posted on 10th June 2019 |
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New Delhi: Infrastructure company Larsen & Toubro (L&T) Monday said its construction arm has bagged 'large' orders across various business segments in the domestic as we ll as international market. The company said the orders fall under 'large' category, which ranges between ₹2,500 crore and ₹5,000 crore as per its classification of contracts. |
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