A deal signed between engineering firm L&T and French nuclear vendor Areva for maximising the localisation of critical components for the proposed 10,000-MW nuclear power plant at Jaitapur marks a desperate attempt to prune the cost of each of the six 1,650 MWe (mega watt electric) reactors to be deployed at the site in Maharashtra to about $4 billion. This is expected to translate into a generation cost equivalent of about Rs 7 per unit.

Infra major Larsen & Toubro (L&T) will construct a luxury housing project of Wave Infratech in Noida.

The project 'Eminence' would be completed in 42 months. Eminence spread over 1.62 acres is part of Wave's mega township project Wave City Center.

Shares of L&T Finance Holdings has moved higher by 4% to Rs 66.45 on the NSE in an otherwise weak market after reporting a 10% year on year (yoy) jump in its consolidated net profit before exceptional items at Rs 206 crore for the quarter ended March 2015 (Q4). Net interest income grew 21% at Rs 706 crore on yoy basis.

Gross non-performing assets (NPA) during the quarter under review declined to 3.01% against 3.18% and net NPA to 1.98% from 2.29% over the previous year quarter, L&T Finance Holdings, the non-banking financial arm of Larsen & Toubro said in a filing.

The Indian rupee was trading marginally higher at 62.83 per dollar against previous day's closing value of 62.85 a dollar tracking gains in equities.

BSE Healthcare index was the top gainer up 1% followed by Capital Goods, FMCG, Metal, Oil and Gas indices.

Shares of Larsen & Toubro (L&T) were trading higher by 1% at Rs 1,783 on the BSE after the company said it has signed a memorandum of understanding (MoU) with French firm Areva for cooperation to maximise localisation for the EPR nuclear power plant to be built at Jaitapur in Maharashtra.

Areva’s EPR nuclear reactor is a third generation advanced pressurised water reactor.

Marginal recovery in rate sensitive shares in late trades helped markets recoup intra-day losses to finally end flat even as the Reserve Bank of India at its policy meet early today maintained status quo on key rates.

The 30-share Sensex ended up 12 points at 28,517 while the 50-share Nifty ended nearly unchanged at 8,660.

Larsen & Toubro (L&T) today said its construction arm has bagged orders worth Rs 5,492 crore across various segments in March.

In the building and factories segment, the projects L&T Construction has won include a major order for construction of a mix use development complex in Mumbai, it said.

Infrastructure firm Larsen & Toubro has bagged a Rs 5,580—crore contract from state—run NTPC for setting up a thermal power project at Khargone in Madhya Pradesh.

“Larsen & Toubro (L&T) has secured a turnkey order from NTPC for setting up a 2x660 MW greenfield thermal power plant in Khargone district of Madhya Pradesh on EPC (engineering, procurement and construction) basis, ” the company said in a statement.

Larsen & Toubro (L&T) today said it has bagged orders worth Rs 2,101 crore across various segments in March.

"The construction arm of L&T has won orders worth Rs 2,101 crore," the company said in a filing to the BSE.

In his 50 years of service and leadership in one company, A M Naik has a formidable collection of laurels. There has been no dearth of compliments. However, the executive chairman of Larsen & Toubro (L&T) would surely treasure this as one of his biggest awards – about 3,000 employees of the engineering and construction conglomerate came together to celebrate Naik’s 50 years of service at the company’s Powai campus here on Monday.

Naik completed his 50th year in the company on March 15, but the celebrations were delayed as the man himself was in Kuwait, to do what he loves best – work.

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