Engineering and construction major L&T today entered into a joint venture with European defence major MBDA Missile Systems for development of missiles in India.

L&T will own 51 per cent stake in the JV named L&T MBDA Missile Systems and the rest 49 with the European partner.

MUMBAI: Larsen & Toubro has bagged orders worth Rs 1,286 crore for construction jobs, the company said in a statement Friday.

The orders include heavy civil infrastructure jobs worth Rs 1,071 crore. The company received order in the underground metro space from Metro-Link Express for Gandhinagar and Ahmedabad Company for the design and construction of underground stations and associated tunnels for Package 2 in East-West corridor of the Ahmedabad metro project.

Infrastructure heavyweight Larsen & Toubro (L&T) on Friday said its subsidiary L&T Hydrocarbon has bagged orders worth Rs 1,700 crore in its construction services vertical.

"L&T Hydrocarbon, a wholly-owned subsidiary of Larsen & Toubro, has won orders worth Rs 1,700 crore order in its construction services vertical," L&T said in a BSE filing.

Domestic Engineering & Construction (E&C) is likely to witness a slowdown in execution in H2FY17 (+8 % in H1FY17) on account of demonetisation and continued execution challenges. The impact may linger longer for the ‘elite housing’ segment (6% of order book). We cut our FY17 order inflow estimates (+9% v/s +18% earlier) to factor in weak defense, infrastructure and power generation orders. We, however, expect a revival in FY18, led by higher government spending on infrastructure and defense.

Larsen & Toubro (L&T) on Monday said it has been chosen as the implementation partner to convert Pune into a smart city.

The letter of intent (LoI) was handed over to representatives of L&T Construction's Smart World and Communication business unit, which will be executing the project, by Municipal Commissioner of Pune Kunal Kumar, the company said in a statement.

NEW DELHI: Larsen & Toubro (L&T) today said its construction arm has bagged orders worth Rs 3,039 crore across various business segments, including power transmission and distribution, and heavy civil infrastructure.

In the water and effluent treatment sector, the company won orders worth Rs 1,422 crore, L&T said in a filing to BSE.

L&T Technology Services Limited (NSE: LTTS), a leading global pure-play Engineering R&D Services company, announced a partnership with the Centre for Nano Science and Engineering (CeNSE), Indian Institute of Science (IISc), Bangalore to jointly work towards innovations in the areas of Sensors and Energy Efficient Systems based on Nanotechnology.

The agreement was signed between CeNSE, IISc and L&T Technology Services at the IISc campus in Bangalore.

Faced with economic challenges, engineering major Larsen & Toubro (L&T) has laid off 14,000 employees across businesses during April-September period this year, saying it was necessary to stay "agile and competitive".

"It was a strategic decision that if a business is not in good shape, we are trying to resize it. If there is time to get the business back to normalcy, it is important to reduce the under-recoveries. So, the jobs that we are finding redundant, we are allowing people to move on," company's Chief Financial Officer R Shankar Raman said.

Mumbai: Larsen and Toubro Ltd (L&T), India’s largest engineering and construction company, will see some impact of demonetisation on its construction and real estate business in the next quarter, analysts said.

L&T, which is referred to as a corporate proxy for the broader economy, will report results for the second quarter ended 30 September on Tuesday, but all eyes will be on the company’s outlook commentary for the full-year and the impact of demonetisation on its various businesses.

The government plans to offload up to three per cent stake in Larsen & Toubro (L&T) held under Specified Undertaking of the Unit Trust of India (Suuti) through a block deal on Friday, said investment banking sources.

The base price for the share sale has been set at Rs 1,415.66, about two per cent discount to L&T's closing price of Rs 1,445 on Thursday. The government will be able to mop up around Rs 4,000 crore through the transaction. Suuti owns around 8.32 per cent stake in L&T. Besides L&T, Suuti owns around 11 per cent each in ITC and Axis Bank.

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