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BOM:500510

33 stories mentioning BOM:500510Updated 4d ago

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Larsen & Toubro Wins Large ONGC Offshore Order

Larsen & Toubro (NSE:LT, BOM:500510) said L&T Energy Hydrocarbon Offshore has secured a "large" order from Oil & Natural Gas Corp. (ONGC) for the Additional Development of Ratna-I and NLM-14 project off the west coast of India.The project covers engineering, procurement, construction, installation and commissioning of three well-head platforms, one riser platform, subsea pipelines and cables, and modifications to existing offshore installations, according to an Indian bourse filing on Wednesday.The company classifies orders worth 25 billion rupees to 50 billion rupees as large.

BOM:500510NSE:LT

India Ratings Affirms Larsen & Toubro's 'IND AAA' NCD Rating, Outlook Stable

Larsen & Toubro (NSE:LT, BOM:500510) said India Ratings & Research has affirmed its non-convertible debentures credit rating at 'IND AAA' with a stable outlook.India Ratings also affirmed the company's commercial paper rating at 'IND A1+', according to a Wednesday exchange filing.

BOM:500510NSE:LT

Larsen & Toubro Signs Middle East Gas Compression Facilities Contract

Larsen & Toubro (NSE:LT, BOM:500510) said its L&T Energy Hydrocarbon Onshore unit has signed a contract for a gas compression facilities project in the Middle East.The project involves engineering, procurement and construction of gas compression plants and related infrastructure. L&T's Power Transmission & Distribution business will also build two 230 kV substations to supply power to the facilities.

BOM:500510NSE:LT

Mitsubishi Heavy Industries Wins APM System Contract for Dubai's Al Maktoum International Airport

Mitsubishi Heavy Industries (TYO:7011) has secured an order for an automated people mover (APM) system for the first phase of the development plan for the new Al Maktoum International Airport in Dubai, according to a Thursday release.The contract is part of a consortium involving the group's Dubai subsidiary, MHI Mobility Engineering Services, government-owned Dubai Aviation City, and India-based Larsen & Toubro (NSE:LT, BOM:500510).Mitsubishi Heavy Industries and MHI Mobility Engineering Services will supervise the design, procurement, and testing for the 165 APM vehicles and signaling system that make up the system's core, as well as the overall system integration.Larsen & Toubro will take on the design, procurement, testing, and on-site construction of other subsystems.The deliverable will be the world's largest APM system, with a length of about 50 kilometers and connecting nine stations.The parties expect completion by December 2031.Al Maktoum International Airport's development is a project by the Dubai government to create one of the world's largest airport hubs that will serve 260 million passengers annually.The Dubai government targets a 2032 opening for the airport.

BOM:500510NSE:LTTYO:7011

Larsen & Toubro Secures Major Middle East Offshore Development Order

Larsen & Toubro (NSE:LT, BOM:500510) said its L&T Energy Hydrocarbon Offshore unit has secured an "ultra-mega" order from a Middle Eastern client for the development of multiple offshore facilities, according to a Monday exchange filing.The project scope includes engineering, procurement, construction, installation, and commissioning, with a significant portion of fabrication to be carried out at L&T's facilities.

BOM:500510NSE:LT

Larsen & Toubro Unit Bags Projects from ONGC

Larsen & Toubro (NSE:LT, BOM:500510) unit L&T Energy Hydrocarbon Offshore secured orders from the Oil & Natural Gas Corporation (ONGC) for pipeline replacement and well head platform projects off India's West Coast.The company will provide engineering, procurement, construction, installation, and commissioning (EPCIC) works of various subsea pipeline segments, in addition to modification works across ONGC's offshore fields, according to a Friday filing.Under the second project, EPCIC services will be provided for four well head platforms.

BOM:500510NSE:LT

Larsen & Toubro Signs Six-Year EPC Framework Agreement in Oman

Larsen & Toubro (NSE:LT, BOM:500510) said its Energy Hydrocarbon Onshore business has signed a six-year engineering, procurement and construction framework agreement with Oman's Petroleum Development Oman (PDO).Under the agreement, L&T has been selected as one of four EPC contractors eligible to participate in Petroleum Development Oman's front-end engineering design and EPC projects during the contract period, according to a Friday filing.

BOM:500510NSE:LT

Larsen & Toubro's Business Vertical Gets Limited Notice to Proceed for Power Plant Project

Larsen & Toubro's (NSE:LT, BOM:500510) business vertical, L&T Energy CarbonLite Solutions obtained a Limited Notice to Proceed from NTPC for a power plant project.The project involves the construction of two state-of-the-art 800 megawatt ultra-supercritical generating units under a thermal power plant in Chhattisgarh, according to a Thursday Indian bourse filing.The company will secure the Notice to Proceed once the project gets environmental clearance and the Limited Notice to Proceed period is completed.

BOM:500510NSE:LT

Larsen & Toubro's Unit Bags EPC Contract from Kuwait Oil

Larsen & Toubro's (NSE:LT, BOM:500510) EPC wing, L&T Energy Hydrocarbon Onshore secured a major EPC contract from Kuwait Oil Company for its Jurassic Light Oil export facilities.The company will provide engineering, procurement, and construction services for six crude oil storage tanks with a 618,000 barrel operating capacity each, alongside related facilities, according to a Wednesday Indian bourse filing.The agreement will also cover the upgrade of Kuwait Oil Company's existing export network, including the installation of new pipelines.

BOM:500510NSE:LT

Larsen & Toubro Board Clears Merger of Power Development Unit

Larsen & Toubro (NSE:LT, BOM:500510) said its board has approved the merger of wholly owned subsidiary L&T Power Development with the company, according to a Tuesday exchange filing.The proposed amalgamation, which requires approvals, including sanction from the Mumbai bench of the National Company Law Tribunal, will result in the dissolution of L&T Power Development without winding up.Upon the scheme becoming effective, all shares held by L&T in the subsidiary will be canceled.

BOM:500510NSE:LT

Larsen & Toubro's Profit Climbs in Fiscal Q1

Larsen & Toubro (NSE:LT, BOM:500510) recorded an attributable profit of 41.2 billion Indian rupees in the first fiscal quarter, up from 36.2 billion rupees a year prior.Earnings per share increased to 29.96 rupees from 26.29 rupees in the year-ago period, according to a Tuesday Indian bourse filing.Revenue from operations increased to 679.4 billion rupees from 636.8 billion rupees previously.

BOM:500510NSE:LT

Larsen & Toubro, Hitachi Energy Secure Four Offshore Wind Projects Under TenneT Framework

Larsen & Toubro (NSE:LT, BOM:500510) has signed a framework cooperation agreement with Dutch transmission system operator TenneT for four offshore wind projects under the Dutch grid operator's 2 GW high-voltage direct current (HVDC) program.The agreement, executed through L&T's consortium with Hitachi Energy, includes two ongoing projects in the Netherlands, IJmuiden Ver Alpha and Nederwiek 1, and two new projects, Nederwiek 3 in the Netherlands and LanWin 5 in Germany. It also covers future opportunities under the program, according to a Tuesday filing on Indian bourses.

BOM:500510NSE:LT

Larsen & Toubro's ESG Score Cut to 69.8 by SES

Larsen & Toubro (NSE:LT, BOM:500510) said SES ESG Research revised its ESG score to 69.8 from 71.3 in June.The lower score was mainly due to a decline in environmental and social performance, according to a Monday filing on Indian bourses.Shares of the company rose nearly 1% in recent trade.

BOM:500510NSE:LT

Fitch Affirms L&T Finance's BBB- Rating; Outlook Stable

Fitch Ratings has affirmed L&T Finance's (NSE:L&TFH, BOM:533519) long-term foreign- and local-currency issuer default ratings at BBB-, with a stable outlook, according to a Wednesday filing to the Indian stock exchanges.The ratings agency has also affirmed L&T Finance's Shareholder Support Rating at bbb-.Fitch said the rating reflects its expectation that the non-banking finance company's parent, Larsen & Toubro (NSE:LT, BOM:500510), would provide extraordinary support, if required.

BOM:500510BOM:533519NSE:L&TFHNSE:LT

Larsen & Toubro Unit L&T Vyoma Partners With Fortanix on Sovereign AI, Data Security Solutions

Larsen & Toubro's (NSE:LT, BOM:500510) digital infrastructure business, L&T Vyoma, has partnered with Fortanix to jointly offer sovereign AI and data security software-as-a-service solutions for enterprises and government organizations in India.Under the partnership, L&T Vyoma will offer AI cloud infrastructure, while Fortanix will secure data and AI workloads using confidential computing technology, according to an Indian bourse filing on Wednesday. The companies also plan to jointly develop AI security solutions and pursue co-selling opportunities in regulated industries.

BOM:500510NSE:LT

Fitch Affirms Larsen & Toubro at BBB+ on Strong Market Position

Fitch Ratings has maintained Larsen & Toubro's (NSE:LT, BOM:500510) BBB+ long-term foreign and local-currency issuer default ratings with a stable outlook, according to a recent release.The ratings reflect the company's robust position in engineering and construction, supported by above-average profitability and strong order backlog and revenue visibility, Fitch said.The company's competitive advantages, including wide scale and high brand recognition, have helped it boost its clientage in India and overseas, according to Fitch.The company's history of stable margins and diversification into steady, high-margin IT and technical services aids in offsetting sectoral risks, the rating agency said.The company has limited exposure to the Iran war and has a healthy financial framework and financial flexibility.Significant overseas earnings, a solid financial profile, and offshore funding flexibility help lift the company's local currency issuer default rating above that of the sovereign.The outlook is stable, based on Fitch's view that the company will retain a solid net cash position even with increased growth investments, anchored by further EBITDA growth, and controlled financial management and shareholder returns.

BOM:500510NSE:LT

Fitch Affirms Larsen & Toubro's BBB+ Rating, Stable Outlook

Fitch Ratings has affirmed India's Larsen & Toubro (NSE:LT, BOM:500510) long-term foreign- and local-currency issuer default ratings at BBB+, according to a statement issued on Friday.The outlook has been maintained as stable.The company's ratings were supported by its strong global market position in engineering and construction, with "above-average profitability and solid revenue visibility", Fitch said.The ratings agency further said the stable outlook reflects its expectation that L&T will maintain a good net cash position despite higher growth investments, supported by continued EBITDA growth, and prudent financial management and shareholder returns.

BOM:500510NSE:LT

Larsen & Toubro Forms New Step-Down Subsidiary for AI Infrastructure, Technology Services

Infrastructure and engineering major Larsen & Toubro (NSE:LT, BOM:500510) has incorporated a step-down subsidiary named LTN Compute, according to a filing to the Indian stock exchanges on Sunday.Vyoma.AI, a wholly owned subsidiary of the company, owns 100% of the new entity.LTN Compute has been formed to establish an AI compute infrastructure and provide technology-enabled services.

BOM:500510NSE:LT

Larsen & Toubro Arm Secures 'Significant' Orders of Up To INR25 Billion

L&T GeoStructure, a wholly-owned subsidiary of Larsen & Toubro (NSE:LT, BOM:500510), secured "significant" new orders in India valued between 10 billion Indian rupees and 25 billion rupees, according to a Tuesday filing to the Indian stock exchanges.Of the total, the company bagged its largest piling order yet from JSW Utkal Steel at the latter's 10 MTPA integrated steel plant at Paradeep in Odisha, India.The project spans nine major packages and involves critical structures such as the blast furnace, hot strip mill, and steel melting shop, involving piling works of around 3 million running meters.The company also received two separate orders from the Inland Waterways Authority of India for the engineering, procurement, and construction of ship repair facilities at Patna and Varanasi.The orders will include advanced ship lift and transfer systems, including an 800-ton boat hoist, to support the repair and maintenance of inland vessels.The business has also secured an order for the construction of India's first yacht marina at Mumbai Harbour from the Mumbai Port Authority for the trestle, piled breakwater, service platforms, concrete pontoons, and gangways.

BOM:500510NSE:LT

Larsen & Toubro Bags Orders to Set Up Substations in Middle East

Power transmission and distribution vertical of Larsen & Toubro (NSE:LT, BOM:500510) has secured "significant" orders valued between 10 billion Indian rupees and 25 billion rupees from clients in the Middle East, according to a Wednesday filing to the Indian stock exchanges.The contracts are for constructing one 380 kV substation and two 132 kV high-capacity substations on a turnkey basis.These substations will ensure reliable power to large load centers and decongest grids, thereby enabling them to meet growing demand, the filing said.

BOM:500510NSE:LT

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