Engineering conglomerate Larsen & Toubro (L&T) on Tuesday announced it will acquire a 21 per cent stake in an Indian cloud and AI cloud provider, in an all-cash transaction of Rs 1,327 crore.

L&T also announced a strategic partnership with the AI cloud company.

In a two part deal, L&T proposes to acquire a total of 4.17 million equity shares of Networks, or 21 per cent stake.

Larsen & Toubro’s (L&T) Power Transmission & Distribution (PT&D) vertical has secured new orders in West Asia and Africa aimed at expanding and strengthening high-voltage electricity grids, the company announced in an exchange filing on Wednesday. The contracts, classified as 'major', are estimated to be valued between Rs 5,000 crore and Rs 10,000 crore.

Larsen and Tourbo (L&T) on Monday said its Hydrocarbon Business (L&T Energy Hydrocarbon – LTEH) has bagged a large onshore project from IndianOil Adani Ventures Limited.

L&T defines large contracts between the range of Rs 2,500 crore and Rs 5,000 crore.

The scope of work includes engineering, procurement, construction, and commissioning of offsite tankages, bullets and other associated facilities on a lump sum turnkey basis, the company said in a filing to BSE.

L&T Finance Holdings Ltd’s (LTFH) consolidated net profit rose by 41 per cent year-on-year to Rs 640 crore in the third quarter ended December 2023 (Q3 FY24), on the back of robust business performance and strong net interest margins (NIMs) and fees. It had posted a net profit of Rs 453 crore in Q3 FY23.

Its Net Interest Income (NII) on a consolidated basis grew by 8 per cent Y-o-Y to Rs 1,833 crore in Q3 FY24 as against Rs 1,693 crore in the quarter ended December 2022 (Q3 FY23). Its NIMs plus Fees improved to 10.93 per cent in Q3 FY24 from 8.80 per cent in Q3 FY23.

Larsen & Toubro (L&T) announced on Wednesday that its Power Transmission & Distribution business has secured an Engineering, Procurement, and Construction (EPC) order from West Bengal Power Development Corporation Limited. The order is for setting up wet Flue Gas Desulphurisation (FGD) systems at its thermal power plant located in Sagardighi, West Bengal.

The project features include three FGD absorbers catering to four thermal power units (2x300 MW, 2x500 MW).

Shares of Larsen & Toubro (L&T) rallied 4 per cent on the BSE to scale a fresh high of Rs 2,998 in Tuesday’s intra-day trade after the company revised its buyback price upwards from Rs 3,000 to Rs 3,200 per share.

At the same time, maximum no of shares to be bought back has been reduced to about 31.2 million shares from about 33.3 million shares earlier. The revised buyback represents 2.22 per cent of the paid up equity share capital of the company.

L&T Construction will create renewable energy infrastructure for the world’s largest green hydrogen plant at NEOM, the company said in a BSE filing.

L&T will engineer, procure, and construct a 2.2 GWac PV solar plant, 1.65 GW wind generation balance of plant and a 400 MWh battery energy storage system at Oxagon in Saudi Arabia’s region of NEOM.

Shares of Larsen & Toubro (L&T) gained 1 per cent and hit an all-time high of Rs 2,079.60 on the BSE in Friday’s intra-day trade on strong order prospects. The stock of the engineering & construction company has surpassed its previous high of Rs 2,078.20, touched on January 18, 2022. In comparison, the S&P BSE Sensex was down 0.06 per cent at 62,238, at 09:30 am.

In the past two trading days, L&T has gained 3 per cent after the company won an order worth Rs 1,000-2,500 crore from Greenko Group, one of the world's leading renewable energy companies, for development of an off stream pumped storage project in Madhya Pradesh.

L&T Technology Services (LTTS) aims to achieve carbon and water neutrality by 2030 and has unveiled its first sustainability report, the company said on Monday.

The report, conforming to the Global Reporting Initiative (GRI), presents LTTS' sustainability efforts across its key elements for fiscal 2020-21.

Shares of Larsen & Toubro (L&T) were up 4 per cent at Rs 1,861 on the BSE in Thursday’s intra-day trade after the company posted a healthy operational performance for the quarter ended September 2021 (Q2FY22). The company’s order backlog remains strong at Rs 3.3 trillion. The stock of construction & engineering major had hit a record high of Rs 1,884.90 on October 19, 2021.

L&T said it has bagged orders worth Rs 42,140 crore during Q2FY22, registering a robust growth of 50 per cent compared with the corresponding period of the previous year.

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