Mumbai: India’s largest engineering and construction company Larsen and Toubro Ltd on Thursday crossed Rs2 trillion market cap for the first time after its shares soared over 13% so far this year.

The stock touched a high of Rs1,430.60 a share and gained as much as 1.25% in intraday trade. Currently, its market cap stands at Rs2.01 trillion. At 9.35am, its shares were trading at Rs1,429.50 apiece on the BSE, up 1.17% from its previous close, while India’s benchmark Sensex index rose 0.49% to 36,228.72 points.

L&T Finance Holdings Ltd’s (L&TFH) consolidated net profit for the third quarter ended December 2017 rose by 42 per to Rs 3.84 billion on sharp rise in fee income and control over expenses. It had posted a net profit of Rs 2.7 billion in third quarter of 2016-17 (FY17).

Total Income rose by 25 per cent to Rs 27 billion in Q3Fy18. The fee income saw 93 per cent jump at Rs 3.55 billion.

A court has directed issuance of arrest warrant against defaulter businessman Vijay Mallya and 18 others in the Kingfisher Airlines case, on a complaint filed by the Serious Fraud Investigation Office (SFIO).

The probe agency, which comes under the corporate affairs ministry, has come across various violations of companies law in the case related to Kingfisher Airlines, which was grounded in 2012.

Engineering major Larsen & Toubro today said it has commissioned and handed over the 360 MW Bheramara power plant in Bangladesh.

The Bheramara Combined Cycle Power Plant Development project was handed over to North West Power Generation Company Ltd (NWPGCL), a fully-owned subsidiary of Bangladesh Power Development Board (BPDB), on January 5, 2018, it said in a BSE filing.

L&T Hydrocarbon Engineering has secured a Rs 14.83 billion offshore contract from ONGC.

L&T Hydrocarbon Engineering, a wholly-owned subsidiary of Larsen and Toubro, has signed an offshore contract for the 'Bassein Development 3 Well Platform and Pipeline Project' with Oil and Natural Gas Corporation (ONGC) valued at approximately Rs 14.83 billion, Larsen and Toubro stated in a BSE filing on Friday.

Tata Steel, NMDC, Oil India, Jain Irrigation Systems, Jet Airways and Jindal Steel & Power (JSPL) are among 36 stocks from the S&P BSE 500 index that hit their respective 52-week highs on BSE.

Of these 36 stocks, around 21 recorded new highs in intra-day trade. These include Larsen & Toubro (L&T), Sun TV Network, Hindalco Industries, APL Apollo Tubes, Bajaj Electricals, Rain Industries and Sterlite Technologies

Infrastructure major Larsen & Toubro (L&T) on Tuesday said its construction arm has won contracts worth Rs 14.54 billion including one in Egypt.

The Smart World & Communications Business Unit secured an order worth Rs 8.64 billion for implementation of 5 million Smart Meters across 16 cities of Uttar Pradesh and Haryana, the company said in a statement.

Shares of two Larsen & Toubro (L&T) Group companies - L&T Infotech (LTI) and L&T Technology Services (LTTS) – hit their respective 52-week highs by rallying 7% each on the BSE in intra-day trade in an otherwise subdued market.

LTI, a global technology consulting and digital solutions company, rallied 7% to Rs 1,229, while LTTS which focuses on engineering and R&D (ER&D) services, too surged 7% to Rs 1,141 on the BSE. At 11:08 AM; the S&P BSE Sensex was up marginally by 0.05% at 33,829 points.

The buildings and factories business of L&T Construction has bagged orders worth Rs 3,355 crore, a regulatory filing by the company said here on Tuesday.

The business has won an order from the India International Convention & Exhibition Centre Limited to design and construct a state-of-the-art India International Convention & Expo Centre in New Delhi.

We attended L&T Infotech’s (LTI) Analyst Day, and reiterate our positive hypothesis. LTI’s growth will be driven by (1) Scalability of its strong client portfolio (54 from Fortune-500, with addressability of $54 billion across verticals), (2) New wins, with addition of 65 new logos (digital and enterprise solutions-led), (3) High client penetration in digital services (32% of rev), with an increasing deal size (>$1 mn accounts expected to increase to 120 in a year from 99 currently), (4) Investments to augment S&M and leadership in Europe, (5) Acquisitions supplementing capabilities (‘Augment IQ’ for IPs and Syncordis for core banking).

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