Mindtree board appoints L&T boss A M Naik as non-executive chairman
NEW DELHI: Mindtree on Wednesday said L&T Group Chairman A M Naik has been appointed as non-executive chairman of the IT company. The move follows the construction major acquiring over 60 per cent stake in the Bengaluru-based IT company. “…the Nomination and Remuneration Committee and the Board of Directors of the company at their meeting […]
L&T picks up Mindtree shares worth Rs 70 crore between May 27-30
NEW DELHI: Infrastructure major Larsen and Toubro (L&T) picked up 7.11 lakh shares of IT firm Mindtree between May 27-30 for about Rs 70 crore, according to regulatory data. The development assumes significance as L&T has been steadily increasing its holding in the Bengaluru-based tech firm where it acquired around 20 per cent stake of […]
L&T buys 73,953 shares of Mindtree, hikes shareholding to 26.53%
NEW DELHI: Infrastructure major Larsen and Toubro (L&T) on Monday acquired 73,953 shares of Mindtree from open market, taking its shareholding in the IT services firm to 26.53 per cent, according to a regulatory filing. “Larsen and Toubro Ltd has acquired 73,953 equity shares (with a face value of Rs 10 each) of Mindtree Ltd […]
L&T net up 8% at Rs 3,418 crore in Q4; dividend of Rs 18 a share announced
NEW DELHI: Infrastructure major Larsen & Toubro (L&T ) on Friday reported a 7.9 per cent rise in its consolidated profit-after-tax (PAT) at Rs 3,418.24 crore for the quarter ended March 2019. Its PAT stood at Rs 3,167.47 crore during the corresponding period a year ago, according to a BSE filing. Consolidated income in the […]
Kotak, L&T, NBCC, two others submit EoI to take over Jaypee Infratech
NEW DELHI: Five companies — NBCC, Kotak Investment, L&T Infrastructure, Singapore-based Cube Highways and Suraksha group — have shown interest in taking over debt-ridden Jaypee Infratech, which is facing bankruptcy proceedings in NCLT. Jaypee Infratech’s Interim Resolution Professional (IRP) Anuj Jain had in October initiated a fresh initiative to revive Jaypee Infratech on NCLT’s direction […]
L&T arm bags orders worth Rs 1,000 crore in Q2
NEW DELHI: The Heavy Engineering arm of Larsen & Toubro has secured additional orders worth Rs 1,050 crore in Q2 FY19 against stiff global competition. These include three Super Heavy Hydrocracking Reactors for an Indian Refinery, with heaviest among them weighing 2,180 MT, to be built for the first time in the World. The total […]
Nirmal joins hands with Shapoorji, L&T and Godrej
NEW DELHI: In a major move, Nirmal Lifestyle has tied up with real estate major Shapoorji Pallonji to execute two major projects worth Rs. 3,000 crore in Mulund. Both the realtors signed the development management agreements (DMAs) for two projects – Olympia and City of Joy. Nirmal Lifestyle which owns the land will procure approvals […]