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L&T signs amendment agreement with CPPIB 11-Nov-2019

Larsen & Toubro (L&T) has entered into an amendment agreement with Canadian Pension Plan Investment Board (CPPIB) with respect to the original Investment Agreement entered into with them in 2014 under which CPPIB had invested in Compulsorily Convertible Preference Shares (CCPS) issued by L&T Infrastructure Development Projects (L&T IDPL), a wholly owned subsidiary of L&T.

As per the amendment agreement, the CCPS held by CPPIB will, upon conversion, give them 48.99% equity stake in L&T IDPL.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.

L&T’s arm secures orders for varied businesses 11-Nov-2019

Larsen & Toubro’s (L&T) construction arm has secured orders from prestigious clients across various Indian states for its varied businesses. An EPC order has been secured from the Jharkhand Urban Infrastructure Development Company (JUIDCO), for augmenting and strengthening the Dhanbad Urban Water Supply Scheme Phase II under Dhanbad Municipal Corporation. The business is also executing the Hazaribagh urban water supply scheme and the Ranchi urban water supply schemes for the same client. The business has secured add-on orders for some of its existing projects.

L&T GeoStructure Business has secured an order from State Project Management Unit, Government of West Bengal for flood protection works and embankment strengthening of Damodar river in East Bardhhaman & Hooghly districts, West Bengal, using sheet piles and Bullah piles. Another order has been secured from BPCL for construction of stone columns in Krishnapatnam, and from BHEL to construct of piles and related civil work for the 2x660 MW STPP coal and ash handling plant at Ennore.

An order has been received from CMRL for underground works at Korukkupet station, Chennai, and from IndusInd Bank to construct a diaphragm wall for a basement multi-level car park at Teynampet, Chennai.

Buildings and Factories Business has received an order for the execution of mechanical works for a cement plant at Kurnool. Additionally, the construction arm has received add-on orders for some of its existing projects across the Transportation Infrastructure (TI) and Metallurgical and Material Handling (MMH) businesses.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.

L&T gains as its arm secures orders for varied businesses 11-Nov-2019

Larsen & Toubro is currently trading at Rs. 1425.95, up by 2.90 points or 0.20% from its previous closing of Rs. 1423.05 on the BSE.

The scrip opened at Rs. 1422.70 and has touched a high and low of Rs. 1431.00 and Rs. 1407.50 respectively. So far 22343 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1606.70 on 28-May-2019 and a 52 week low of Rs. 1202.30 on 14-Feb-2019.

Last one week high and low of the scrip stood at Rs. 1467.85 and Rs. 1407.50 respectively. The current market cap of the company is Rs. 199371.72 crore.

The Institutions holding in the company stood at 57.26%, while Non-Institutions held 42.74 %.

Larsen & Toubro’s (L&T) construction arm has secured orders from prestigious clients across various Indian states for its varied businesses. An EPC order has been secured from the Jharkhand Urban Infrastructure Development Company (JUIDCO), for augmenting and strengthening the Dhanbad Urban Water Supply Scheme Phase II under Dhanbad Municipal Corporation. The business is also executing the Hazaribagh urban water supply scheme and the Ranchi urban water supply schemes for the same client. The business has secured add-on orders for some of its existing projects.

L&T GeoStructure Business has secured an order from State Project Management Unit, Government of West Bengal for flood protection works and embankment strengthening of Damodar river in East Bardhhaman & Hooghly districts, West Bengal, using sheet piles and Bullah piles. Another order has been secured from BPCL for construction of stone columns in Krishnapatnam, and from BHEL to construct of piles and related civil work for the 2x660 MW STPP coal and ash handling plant at Ennore.

An order has been received from CMRL for underground works at Korukkupet station, Chennai, and from IndusInd Bank to construct a diaphragm wall for a basement multi-level car park at Teynampet, Chennai.

Buildings and Factories Business has received an order for the execution of mechanical works for a cement plant at Kurnool. Additionally, the construction arm has received add-on orders for some of its existing projects across the Transportation Infrastructure (TI) and Metallurgical and Material Handling (MMH) businesses.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.

Larsen & Toubro submits press release 11-Nov-2019

Larsen & Toubro has informed about submission of a copy of Press Release titled ‘L&T Construction awarded (Significant) contracts for its various businesses’ that is being issued by the Company, today.

The above information is a part of company’s filings submitted to BSE.

Intimation Under Regulation 30 Of SEBI LODR Regulations 2015 11-Nov-2019
Pursuant to Regulation 30 of SEBI Listing Regulations, we wish to inform that the Company has entered into an amendment agreement with Canadian Pension Plan Investment Board (CPPIB) with respect to the original Investment Agreement entered into with them in 2014 under which CPPIB had invested in Compulsorily Convertible Preference Shares(CCPS) issued by L&T Infrastructure Development Projects Limited (L&T IDPL), a wholly owned subsidiary. As per the amendment agreement, the CCPS held by CPPIB will, upon conversion, give them 48.99% equity stake in L&T IDPL.
Larsen & Toubro informs about loss of share certificates 02-Nov-2019

Larsen & Toubro has informed about Submission of information regarding loss of share certificates and issue of duplicate share certificates as received by the Company from Karvy Fintech, its Registrar and Transfer Agent, pursuant to Regulation 39(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The above information is a part of company’s filings submitted to BSE.

Construction stocks jump as Ind-Ra maintains stable outlook for construction sector for rest of FY20 25-Oct-2019

India Ratings and Research (Ind-Ra) has maintained a stable outlook for the construction sector in India for the rest of FY20 mainly on account of the current order book position.

Larsen & Toubro is currently trading at Rs. 1435.50, up by 3.60 points or 0.25% from its previous closing of Rs. 1431.90 on the BSE. The scrip opened at Rs. 1436.00 and has touched a high and low of Rs. 1442.00 and Rs. 1423.20 respectively. So far 24217 shares were traded on the counter.

NCC is currently trading at Rs. 54.05, up by 0.50 points or 0.93% from its previous closing of Rs. 53.55 on the BSE. The scrip opened at Rs. 54.00 and has touched a high and low of Rs. 55.05 and Rs. 53.40 respectively. So far 2340123 shares were traded on the counter.

Jindal Saw is currently trading at Rs. 86.10, up by 0.55 points or 0.64% from its previous closing of Rs. 85.55 on the BSE. The scrip opened at Rs. 85.85 and has touched a high and low of Rs. 86.75 and Rs. 85.70 respectively. So far 12287 shares were traded on the counter.

The agency has maintained stable outlook despite a slowdown in awarding projects in the transport and irrigation sectors. It also said that most construction firms are likely to experience healthy revenue growth and stable credit metrics over H2 FY20, supported by the strength of their existing order books.

Rating agency has noted that the likely slowdown in the new order inflows in the roads, bridges and highways and the irrigation segments would be compensated by strong order inflows from the urban infrastructure including housing, metro, water supply, sewage treatment and railways segments. It also opined that construction companies focused on road EPC sub-segment are likely to experience minimal developments with respect to their ratings during H2 FY20, as they would continue to execute their order book in a timely manner, supported by their strong execution capabilities and timely realisation of receivables, resulting from the presence of strong counter parties in their order book.

Ind-Ra further said the overall improvement in the financial profile of construction companies are more likely to be determined by their ability to manage their existing working capital resources in a prudent manner, given the working capital- intensive nature of the sector and the increasing risk- averse approach adopted by lenders towards the construction sector. However, it noted that the revenue visibility of these companies might be affected by the slow pace of awarding for road projects, which remains a key rating monitorable.

Company'S Clarification To The Stock Exchanges Dated 18Th February, 2019 And 28Th February, 2019 - Further Update 25-Oct-2019
We have for reference our clarifications to stock exchanges dated February 18, 2019 and February 28, 2019. As directed by the Audit Committee, external experts were appointed to review the details of an earlier investigation conducted on behalf of the Company. The report of the external experts was received and discussed in the Audit Committee meetings held on August 21, 2019 and October 22, 2019. The Audit Committee has concluded that there was no sufficient evidence to support the allegations of the Company''s involvement in making alleged improper payments at the direction of Cognizant Technology Solutions. The Board of Directors took note of the same in its meeting held on October 23, 2019.
Larsen & Toubro reports 7% rise in Q2 consolidated net profit 24-Oct-2019

Larsen & Toubro has reported results for second quarter ended September 30, 2019.

The company has reported a rise of 13.11% in its net profit at Rs 1,983.60 crore for the quarter under review as compared to Rs 1,753.71 crore for the same quarter in the previous year. Total income of the company increased by 8.75% at Rs 19,773.85 crore for Q2FY20 as compared Rs 18182.48 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a rise of 6.83% in its net profit at Rs 2,770.43 crore for the quarter under review as compared to Rs 2,593.41 crore for the same quarter in the previous year. Total income of the company increased by 15.56% at Rs 35,924.89 crore for Q2FY20 as compared Rs 31,086.59 crore for the corresponding quarter previous year.

Larsen & Toubro advances on reporting 7% rise in Q2 consolidated net profit 24-Oct-2019

Larsen & Toubro is currently trading at Rs. 1448.00, up by 17.05 points or 1.19% from its previous closing of Rs. 1430.95 on the BSE.

The scrip opened at Rs. 1459.00 and has touched a high and low of Rs. 1466.00 and Rs. 1444.80 respectively. So far 77722 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1606.70 on 28-May-2019 and a 52 week low of Rs. 1192.10 on 26-Oct-2018.

Last one week high and low of the scrip stood at Rs. 1466.95 and Rs. 1418.45 respectively. The current market cap of the company is Rs. 203494.56 crore.

The Institutions and Non-Institutions held 57.91% and 42.09% stake in the company, respectively.

Larsen & Toubro has reported a rise of 13.11% in its net profit at Rs 1,983.60 crore for the quarter ended September 30, 2019 as compared to Rs 1,753.71 crore for the same quarter in the previous year. Total income of the company increased by 8.75% at Rs 19,773.85 crore for Q2FY20 as compared Rs 18182.48 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a rise of 6.83% in its net profit at Rs 2,770.43 crore for the quarter ended September 30, 2019 as compared to Rs 2,593.41 crore for the same quarter in the previous year. Total income of the company increased by 15.56% at Rs 35,924.89 crore for Q2FY20 as compared Rs 31,086.59 crore for the corresponding quarter previous year.

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