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  • Larsen & Toubro Limited Related news

Larsen & Toubro Limited Related news

L&T Finance OFS subscribed 3.2 times

L&T Finance OFS subscribed 3.2 times

The offer for sale (OFS) of L&T Finance Holdings has been subscribed 3.2 times on the National Stock Exchange (NSE). Parent Larsen & Toubro had offered 16.5 million shares for sale, leading to a dilution of 0.96 per cent stake, at a floor price of Rs 74 each. It had said it may sell up to 11 million shares, in addition to the sale of shares.

L&T Finance Holdings dips as share sale begins

L&T Finance Holdings dips as share sale begins

L&T Finance Holdings has dipped over 5% to Rs 77.55 in early morning deals on the National Stock Exchange (NSE), after the promoter Larsen & Toubro (L&T) share sale programme for diluting 0.95% of its stake commenced today at bourses.

L&T, the promoter of the company, proposes to sell over 16.55 million shares in L&T Finance Holdings at a floor price of Rs 74 per share. This translates into about 10% discount over Tuesday's closing price of Rs 81.90 on the NSE.

L&T to raise Rs3,600 crore by selling shares

L&T to raise Rs3,600 crore by selling shares

Mumbai: India’s largest engineering and construction company Larsen and Toubro Ltd (L&T) plans to raise Rs.3,600 crore, or $600 million, by selling equity shares to financial institutions, also known as qualified institutional placement (QlP).

In a notice to shareholders, L&T said the company is seeking approvals to authorize its board to raise funds through issue of equity shares through QlP, convertible bonds, equity shares through depository receipts of an amount not exceeding Rs.3,600 crore or $600 million, whichever is higher.

Broader markets down over 1%; Nifty struggles at 7,600

Broader markets down over 1%; Nifty struggles at 7,600

Markets have marginally come off morning lows with the Sensex down 158 points at 25,421 and the Nifty gave off 55 points to trade at 7,599.

Sell-off was visible in the broader markets as well with both the mid and small cap indices down over 1% each, taking a breather after several weeks of outperformance.

IT exports from Odisha up 23% in 2013-14

IT exports from Odisha up 23% in 2013-14

Software exports from Odisha has touched about Rs 2,400 crore in 2013-14, an increase of 23.4 per cent over the previous fiscal, according to the provisional data compiled by Software Technology Parks of India (STPI).

IT units in the state had exported Rs 1,945 crore in 2012-13, including Rs 1,705 crore by the STPI registered units.

L&T hits fresh 52-wk high, rallies 6%; brokers raise target to upto Rs 1,813

L&T hits fresh 52-wk high, rallies 6%; brokers raise target to upto Rs 1,813

MUMBAI: Shares of infrastructure and engineering major L&T are in demand after the company impressed the street with margins during Jan-March quarter. Most brokerages remain bullish on the stock and have raised their target price by revising EPS guidance upwards.

L&T's Q4 net profit way ahead of Street estimates

L&T's Q4 net profit way ahead of Street estimates

Engineering and construction company Larsen and Toubro (L&T) reported 69 per cent growth in net profit for the quarter ended March on the back of improved operational performance, higher sales and an exceptional income of Rs 484 crore from dilution of its stake in L&T Finance. Net profit on a standalone basis stood at Rs 2,723 crore in the fourth quarter against Rs 1,609 crore in the same period last year. Even after adjusting for one-time gains, the company has beaten analyst estimates by a long shot.

Sensex above 24,600; L&T and BHEL top gainers

Sensex above 24,600; L&T and BHEL top gainers

Markets have started the trading session on a marginally positive note tracking higher global cues along with capital goods shares leading the gains.

By 9:25, the Sensex was higher by 75 points at 24,624 mark and the Nifty gained by 19 points at 7,336 levels.

Dhamra port deal to help L&T, Tata Steel cut debt

Dhamra port deal to help L&T, Tata Steel cut debt

Adani's takeover of Dhamra Port from Tata Steel and L&T at an enterprise valuation of Rs 5,500 crore is a win-win deal for all the three players.

The deal will not only help L&T and Tata Steel to cut their debt but increase Adani Port's footprint across India. The transaction will also help Adani to export coal from its mines in Eastern India to power stations in western India.

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