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.

L&T Technology Services, an arm of engineering giant Larsen and Toubro, today said it has secured a multi-million dollar contract from a large global semiconductor company to provide verification support on their expansive portfolio of offerings and products.

"This strategic tie-up between the two companies will enable the customer to strengthen its product offering and capitalise on market opportunities with superior quality products," L&T Tech said in a BSE filing.

Larsen & Toubro (L&T) has moved higher by 2.6% to Rs 1,474 on the BSE after the company said it has won a major order worth Rs 3,799 crore from the Dedicated Freight Corridor Corporation of India (DFCCIL). This prestigious order has been secured by a consortium of L&T and Sojitz Corp., Japan.

“This design and build integrated package involves the construction of civil (embankment, structure, tunnel), track works, overhead electrification, traction substations and signaling & telecommunication works for double line electrified tracks with 2X25 kv AC, high rise overhead catenary system capable of operating at a maximum train speed of 100 km/h, from Rewari to Dadri (128 km),” L&T said in a press release.

Infrastructure major Larsen and Toubro (L&T) has bagged orders worth Rs 6,024 crore across various business segments.

"The construction arm of L&T has won orders worth Rs 6,024 crore across various business segments," L&T said in a BSE filing today.

Larsen & Toubro’s (L&T’s) target of doubling its revenue in the next five years would depend on how the economy grew over the period, analysts said.

“There is not much L&T can do internally, it will depend on how the macro factors work out,” said Santosh Yellapu, analyst with Angel Broking.

Larsen & Toubro (L&T) said on Friday that it has received shareholders’ nod to raise up to R9,600 crore through a mix of equity and equity-linked instruments.

In a notice to the Bombay Stock Exchange (BSE), the company said it had received shareholders’ approval at its annual general meeting (AGM) held on August 26 to issue convertible bonds and/or equity shares through depository receipts of an amount not exceeding R3,600 crore or $600 million, whichever is higher.

Larsen & Toubro on Thursday said it has entered into a pact, valued at $99.7 million (around Rs 660 crore), with Vietnam Border Guard for design and construction of high speed patrol vessels.

"Larsen & Toubro (L&T) has signed the principle contract with Vietnam Border Guard... For design and construction of high speed patrol vessels in India as well as transfer of design and technology along with supply of equipment and material kits for construction of follow-on-vessels at a Vietnam shipyard," the company said in a BSE filing.

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