NEW DELHI: Engineering and construction giant Larsen & Toubro today said its IT services unit, L&T Infotech, has filed draft papers with regulator Sebi to go public.

"Larsen & Toubro Infotech Limited, a subsidiary of Larsen & Toubro Limited, has filed its draft red herring prospectus with the Securities and Exchange Board of India (Sebi) on September 28, 2015 in order to undertake an initial public offering of its equity shares," it said in a BSE filing.

Reliance Industries (RIL) plans to raise $1.5 billion to refinance its old loans. RIL will raise the loan in two tranches - $1.36 billion in US dollars and $140 million in Japanese yen.

The maturity of the bonds would be 43 months from the date of issue. The company will conduct road shows in Singapore on October 5, Taipei on October 7 and in Tokyo on October 9.

Maruti Suzuki is expected to sign a re-worked state support agreement with the Gujarat government after an awaited nod from its minority shareholders that will allow Japanese parent Suzuki Motor Corporation to run the upcoming plant in Hansalpur.

India's largest passenger carmaker plans to hold roadshows next month to win over investors to the decision to transfer the Gujarat project to Suzuki, according to sources. Besides, the plant may be commissioned a few months earlier than schedule.

To recover the investors’ money collected illegally by Saradha Realty, regulator Sebi has ordered attachment of 134 properties of the West Bengal-based firm and its chief Sudipta Sen to recover Rs 774.3 crore along with other dues and the applicable interest.

The properties being attached include land parcels, buildings, flats, resorts, furniture, televisions, refrigerators, generators and computers along with all other “movable assets” held by the two defaulters.

Bajaj Auto, India’s largest two-wheeler exporter, plans to enter the Russian market with its Pulsar range of motorcycles. Bajaj will be the first Indian company to export a mass market motorcycle to Russia. Eicher, which manufactures middleweight motorcycle, is the only domestic player exporting two-wheelers to Russia.

Bajaj recently shipped a few containers of the Pulsar to Russia. “We found the Russian market to have a good potential and found a good local partner to be the country-wide distributor. The distributor is developing the channel to market and service two-wheelers”, said S Ravikumar, president (business development and assurance) at Bajaj Auto.

Intending to become a partner in the ambitious Digital India programme, Microsoft CEO Satya Nadella today said his company will take low-cost broadband technology to some five lakh villages across the country.

Speaking at a dinner hosted here in honour of visiting Prime Minister Narendra Modi, Nadella said that Microsoft wants to make things and make things happen.

Mumbai: Shares of Jaypee Group companies were trading weak on Monday after Care Ratings downgraded the debt ratings of a group company to default category.

Care on Friday downgraded Jaypee Infratech Ltd’s Rs.6,550 crore in long-term bank facilities and Rs.1,300 crore in non-convertible debentures to D rating.

NEW DELHI: Engineering major Larsen & Toubro (L&T) today said its arm L&T Construction has bagged orders worth Rs 1,509 crore so far this month.

"The water and effluent treatment strategic business group of L&T Construction has won new water and waste water infrastructure orders worth Rs 1,509 crore in September 2015," L&T said in a BSE filing.

Over two years after the state-run Oil and Natural Gas Corporation (ONGC), with its consortium partners Bharat Petroleum Corporation Limited (BPCL) and Japanese conglomerate Mitsui, signed a memorandum of understanding to set up a re-gasification LNG terminal at New Mangalore Port, the project is again on the back burner.

The consortium had in March 2013 signed the MoU to carry out a feasibility study for a 2-3 million metric tonnes per annum (mmtpa) terminal, which could be expanded to 5 mmtpa.

MUMBAI: The benchmark BSE Sensex rose over 73 points at 25,936.89 in early trade on Monday as investors indulged in widening their positions on the first session of October series in the derivatives segment.

However, caution prevailed ahead of RBI policy review tomorrow and continued fund outflows by foreign investors amid weakness at other Asian markets as investors await US jobs data.

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