Through a Larsen & Toubro (L&T) application, operational creditors to Bhushan Steel have got a window of hope at the National Company Law Appellate Tribunal (NCLAT) on their dues to the insolvent company.

The appellate body has agreed to hear the L&T petition on its Rs 9.62 billion of dues from Bhushan Steel. The case will be heard on Tuesday. Bhushan Steel was taken over by Tata Steel last week, after a protracted process under the insolvency law, involving some controversy.

L&T Hydrocarbon Engineering in consortium with TechnipFMC has bagged two orders from Hindustan Urvarak and Rasayan Ltd for setting up two fertilizer plants. “L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of… Larsen & Toubro Ltd, in consortium with TechnipFMC, has won two significant orders from Hindustan Urvarak and Rasayan Ltd (HURL), a joint venture company of IOCL, NTPC, CIL, FCIL and HFCL,” Larsen and Toubro (L&T) said in a BSE filing.

Canada Pension Plan Investment Board (CPPIB) and Allianz Capital Partners (ACP) have agreed to together acquire 55% of units in IndInfravit Trust (IndInfravit), sponsored by L&T Infrastructure Development Projects Limited (L&T IDPL), a joint statement said on Wednesday.

Mumbai: Larsen & Toubro (L&T) and BrahMos Aerospace have unveiled a new quad launcher prototype, heralding another attempt to boost the performance of naval warships.

The new prototype provides superior firepower compared to the twin canister and has the capability to launch four missiles in a single or salvo (simultaneous) mode. Besides, the quad launcher is suitable for warships which have space constraints to accommodate a vertical launch module.

L&T Defence, the defence arm of Larsen & Toubro (L&T) and one of the leading industry partners of BrahMos Aerospace (BAPL), has completed the design and prototype realisation of the ‘Quadruple Canisterised Inclined Launcher’ (QCIL or Quad Launcher) for BrahMos missiles. After rigorous trials, it has handed over the prototype Quad launcher to BAPL.

L&T Finance Holdings on Thursday reported a 28.5% year-on-year (y-o-y) rise in consolidated net profit for the quarter ended March, 2018 to Rs 405.99 crore on the back of a 31% y-o-y growth in total income to Rs 2,938.44 crore. Its net interest margin (NIM), a key measure of profitability, improved by 27 basis points (bps) sequentially to 5.32%.

In its biggest divestment so far, engineering conglomerate Larsen & Toubro (L&T) on Tuesday said it would sell its electrical and automation business (E&A) to France-headquartered Schneider Electric for a cash consideration of Rs 140 billion. The divestment plan, which was first discussed in the summer of 2015, took three years to mature, it is learnt.

Bengaluru: Island Star Mall Developers Pvt. Ltd, a strategic investment alliance by Phoenix Mills Ltd and Canada Pension Plan Investment Board (CPPIB) has acquired a land parcel in Hebbal, north Bengaluru for Rs650 crore from L&T Construction Equipment Ltd.

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.

Larsen & Toubro (L&T) on Thursday said its construction arm has won orders worth Rs 33.76 billion across business segments.

"L&T Construction's power transmission and distribution business has secured orders worth Rs 12.26 billion on both domestic and international market," the engineering and construction major said in a BSE filing.

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