Shares of L&T Finance Holdings has increased by 2% to Rs 62 on the BSE on reports stating that the financial services unit of engineering major L&T is in talks to sell a minority stake to Bain Capital, one of the world's leading private, alternative asset management firms.

On signing the deal, Bain Capital would have to pay approximately $350 million. The company desires to expand beyond business outsourcing and manufacturing and foray into financial services in India.

L&T Kattupalli Port has begun export of trucks and cars with the maiden call of car carrier, M.V. Gardenia Ace on Monday.

With this, L&T Kattupalli Port has become the third port in Chennai to handle Roll-on Roll-off (RoRo) vessel for shipping cars, trucks, tractors and earth movers. The other two ports — Chennai Port Trust and Kamarajar Port Ltd. — are already handling truck and car shipments.

Engineering and construction major Larsen & Toubro (L&T) today said it has bagged orders worth Rs 1,099 crore across various business verticals last month.

The company's power transmission and distribution business bagged orders worth Rs 517 crore in both international and domestic markets, including add ons, L&T said in a filing to the BSE.

Larsen & Toubro, the country's biggest engineering company, is open to spending as much as $1 billion on acquisitions for its software-services unit as the subsidiary prepares for an Initial Public Offering.

Buying companies will help L&T Infotech build scale and compete with larger rivals, R Shankar Raman, L&T's Mumbai-based chief financial officer, said in an interview. The company might spend between $100 million and $1 billion, he said, without being more specific.

MUMBAI: Engineering major Larsen & Toubro has signed a technology transfer agreement with South Korea's Hyundai Heavy Industries to build carriers for liquefied natural gas (LNG) at its shipyard at Kattupalli, near Chennai.

While L&T aims to bag order from staterun GAIL which is likely to re-launch tender for nine LNG carriers with this tie-up, the company hopes to get more orders in India and abroad. GAIL had issued a Rs 42,370-tender to charter nine LNG carriers in August last year which was later scrapped due to dismal response.

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.

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