Mumbai: India’s biggest engineering and construction firm Larsen and Toubro Ltd (L&T) on Tuesday said it had won orders worth Rs.2,215 crore across various business segments over the last two months.

The power transmission and distribution business contributed Rs.1,137 crore of new orders, Rs.962 crore of orders went to the buildings and factories unit that includes a repeat order of Rs.732 crore for a commercial project in Oman.

Shares of Larsen and Toubro (L&T) and Tata Power Company are trading higher between 3-4% on BSE after these companies were shortlisted for Battlefield Management System by Ministry of Defence.

At 1005 hours, Tata Power Company has surged 4% to Rs 86, while L&T up 3% at Rs 1,728 on BSE.

Mumbai: The Airbus Group NV is in advanced talks with India’s largest engineering company Larsen and Toubro Ltd (L&T) for setting up a radar manufacturing facility in India.

In an interview, Christian Scherer, executive vice-president (head of marketing and sales) and member of executive committee at Airbus Defence and Space GmbH, said it has started discussions with its preferred partner L&T for such a facility.

L&T’s Q3 profitability was below our estimate, led by losses in the hydrocarbons business, unfavourable job mix, very weak non-infrastructure sales and one-offs. FY15 will be a lacklustre year but FY16 looks better given (i) likely continuation of strong sales growth in the infrastructure segment (+20%) and pick-up in non-infrastructure sales on improving inflow/backlog in FY15, (ii) losses in the hydrocarbon business will be largely provided for in FY15, (iii) potential impact, if any, of the infrastructure segment’s overseas execution on margin will materially reflect only in FY17, (iv) continued positive news flow on better domestic ordering, which will eventually be followed by actual higher order awards, though potentially back-ended.

L&T Infotech, the IT services and solutions arm of the EPC major, is looking at revenues of over $1 billion in FY16 before it comes with its IPO in mid-2016.

(We are) working on strategies for revenues to cross $1 billion and go for IPO in mid 2016, its chief operating officer Chandrashekar Kakal told PTI

Mumbai: India’s benchmark index, S&P BSE Sensex, rose for the second consecutive day on Wednesday, led by shares of capital goods, healthcare and power companies, and banks.

The 30-share Sensex closed 0.63%, or 178.35 points, higher at 28,533.97, while the National Stock Exchange’s broader 50-share CNX Nifty gained 0.72%, or 61.85 points, to end at 8,627.40.

Larsen & Toubro posted an 8.8 per cent rise in consolidated net profit for the third quarter, on the back of revenue growth. However, the results failed to meet the Street expectation. The company also disappointed by lowering its order growth forecast (‘guidance’) to 15-20 per cent from the 20 per cent at the start of the financial year, anticipating delays in order booking.

Benchmark indices have extended losses and are trading near day’s low with Sensex and Nifty slipping over 1% weighed down by metal, auto and financials shares.

By 10:15, the Sensex was lower by 341 points at 28,377 whereas the Nifty has slipped by 100 points at 8,561 levels.

L&T Finance Holdings Limited is considering putting its hat into the ring for a payment bank licence.

Y M Deosthalee, chairman and managing director, said, "We have evaluated the payment bank option. It will take some more time for us to arrive at a decision."

Larsen and Toubro (L&T) is trading higher by 2% at Rs 1,570 on NSE after the company said it has won orders worth of Rs 4,006 crore in the month of December 2014.

The construction arm of L&T has won orders worth Rs 4,006 crore across various business segments in the month of December’14 in both the domestic and international markets, L&T said in a statement.

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