L&T arm bags ExxonMobil deal, expects $20 million revenue in first year
Posted on 9th April 2018 |
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| Mumbai: L&T Technology Services Ltd has bagged a multi-million deal from ExxonMobil Exploration Company, which will deliver revenues of $20 million in the first year, the L&T arm said Monday. The company, a listed subsidiary of Larsen & Toubro Ltd (L&T), will help geoscientists with improved data availability, enhancing the speed and efficiency of analysis and evaluation, it said in a statement. It will deploy geospatial and digital expertise and work with sister company L&T Infotech on the contract. The company’s managing director and chief executive officer, Keshab Panda, said its hydrocarbon heritage, geospatial domain understanding and digital engineering expertise will be of help to serve the contract. “Our solutions will provide geoscientists accelerated insights into their subsurface data. This in turn maximises asset utilisation, minimises data preparation time and reduces total cost of ownership,” he added. The company said the deal reaffirms its technology investment strategy and cements its position in the rapidly changing oil and gas industry going through digital shifts. On Monday, L&T Technology Services shares fell 0.97%, or Rs11.85, to Rs1,210.00 on the BSE while the benchmark Sensex rose 0.48%, or 161.57 points, to end the day at 33,788.54. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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